FHA Loans
Government-backed mortgages with lower down payment requirements and flexible credit guidelines.
Benefits of FHA Loans
FHA loans offer several advantages for homebuyers, especially first-time buyers.
Low Down Payment
Down payments as low as 3.5% for borrowers with credit scores of 580 or higher.
Flexible Credit Requirements
Qualify with credit scores as low as 500 (with 10% down payment).
Higher Debt-to-Income Ratio
More lenient DTI requirements compared to conventional loans.
Assumable Mortgages
Future buyers may be able to take over your loan terms, which can be attractive in a rising rate environment.
Competitive Interest Rates
Government backing often results in competitive interest rates.
Non-Occupant Co-Borrowers
Parents or other relatives can help you qualify without living in the home.
Eligibility Requirements
Basic Requirements
- Minimum credit score of 500 (with 10% down) or 580 (with 3.5% down)
- Steady employment history and verifiable income
- Property must be your primary residence
- Property must meet FHA minimum property standards
- Mortgage insurance premium required
- Debt-to-income ratio typically below 43% (exceptions possible)
Frequently Asked Questions
Common questions about FHA loans.
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