FHA LOANS
FHA loans are government-backed mortgages designed to make homeownership more accessible—especially for first-time buyers, individuals with lower credit scores, or those with limited savings. Insured by the Federal Housing Administration (FHA), these loans offer low down payments and more flexible qualification guidelines than most conventional options.
Why Choose an FHA Loan?
-
Low Down Payment – Just 3.5% for qualified buyers
-
More Lenient Credit Requirements – Minimum score of 580 in most cases
-
Competitive Interest Rates
-
Allows Gifted Funds for down payment and closing costs
-
Can Be Used to Purchase or Refinance
-
Renovation Loan Options Available
Who Can Qualify for an FHA Loan?
FHA loans are ideal for:
-
First-time homebuyers
-
Borrowers with less-than-perfect credit
-
Buyers with limited savings for a down payment
-
Those who may not qualify for a conventional mortgage
To qualify, you generally need:
-
Credit Score: Minimum of 580 (some lenders may allow lower with higher down payment)
-
Down Payment: 3.5% for scores of 580 and above; 10% for lower scores
-
Debt-to-Income Ratio: Up to 56% in certain cases
-
Property Must Meet FHA Guidelines for safety and livability
FHA Loan Limits
FHA vs. Conventional Loans
If you're unsure whether to pursue an FHA or conventional mortgage, we’ll help you compare:
-
Monthly payments
-
Mortgage insurance costs
-
Long-term financial impact
-
Qualification requirements
Our job is to help you make a smart, informed decision based on your finances and goals.
