FHA Loans
Government-backed loans with flexible qualification.
FHA loans are insured by the Federal Housing Administration and designed to make homeownership accessible. They allow lower credit scores and smaller down payments than most conventional programs - a common choice for first-time buyers and buyers rebuilding credit.
What a FHA Loan Looks Like
A quick read on who this program fits, what it takes to qualify, and where the money goes - so nothing feels like a surprise.
Who It’s For
Government-backed loans with flexible qualification.
- First-time buyers with limited savings
- Borrowers with credit scores starting at 580
- Buyers who have experienced credit setbacks and are re-establishing
How You Qualify
Underwriting reviews credit, income, and the property together to build the loan.
- Minimum 580 credit score for 3.5% down (500–579 requires 10% down)
- Steady, documentable income
- Property must meet FHA appraisal standards
What It Costs
Minimum 3.5% down. Down payment can come from savings, gifts from family, or approved assistance programs. - Plan for 2%–5% of the loan amount in closing costs, plus the upfront mortgage insurance premium (1.75% of the loan amount) which can be rolled into the loan.
- Down payments as low as 3.5% with a 580+ score
- More forgiving credit and DTI standards
- Assumable - a future buyer may take over your rate
What You’ll Need to Qualify
- Minimum 580 credit score for 3.5% down (500–579 requires 10% down)
- Steady, documentable income
- Property must meet FHA appraisal standards
- Loan must be for a primary residence
Have These Ready
- Recent pay stubs and W-2s
- Two months of bank statements
- Photo ID and Social Security card
- Explanation letters for any credit events
- Tax returns if self-employed
Not Sure If You Qualify Yet?
A licensed loan advisor will walk your numbers with you - no credit pull, no obligation. You’ll leave the call knowing exactly what to fix first.
The Upside - and What to Weigh
Every program has trade-offs. Here’s the honest picture side by side, without the marketing gloss.
Benefits
- Down payments as low as 3.5% with a 580+ score
- More forgiving credit and DTI standards
- Assumable - a future buyer may take over your rate
- Gift funds and down-payment assistance are permitted
Considerations
- Upfront mortgage insurance premium (UFMIP) at closing
- Monthly mortgage insurance generally for the life of the loan (unless refinanced)
- County-specific loan limits
- Property must meet minimum condition standards
- Buyers who can put 20% down and want to skip mortgage insurance
- Investors - FHA is owner-occupied only
- Jumbo buyers above FHA county limits
Run the Numbers on a FHA Loan
Adjust the price, down payment, and rate to see an estimated monthly payment. Great for narrowing the search before you formally apply - a quick preapproval confirms your real numbers.
Estimate only. Taxes, insurance, and PMI vary by location and loan program.
Get Preapproved
From Application to Keys in FHA purchase loans typically close in 30 days, depending on appraisal timing and documentation.
- 01Apply
Quick online form or a 10-minute call.
- 02Verify
Income, assets, and credit reviewed together.
- 03Appraisal
Property value confirmed for the loan amount.
- 04Close
Sign, fund, and get your keys.
More for FHA Loans Shoppers
Compare Similar Programs
Run the Numbers
Read up Before You Apply
- FHA vs. Conventional: Which Loan Fits You?
A side-by-side look at credit, down payment, and mortgage insurance - with real math on which loan actually costs less.
Open - PMI: What It Is, When It Drops
Private mortgage insurance rules, cost drivers, and how to remove it faster than the automatic schedule.
Open - Down Payment Sources and Gift Rules
Savings, gifts, retirement funds, and DPA - what works, what to document, and where borrowers get tripped up.
Open
Questions We Hear About FHA Loans
Can’t find yours here? A licensed advisor can walk through your specific situation in under 15 minutes.
Straight answers, no pressure - email or call directly.
See if a FHA Loan Fits Your Situation.
A 10-minute preapproval gives you real numbers and a licensed advisor to answer questions - no pressure, no obligation.
