FHA loans are a great way to get into a home without having to come up with a 20% down payment starting at as low as 3.5%. Since FHA loans are backed by the Federal Housing Administration it’s easier to qualify and allows for lower interest rates.

Program Features

Lower Credit Requirements 580+

Must have maximum 50% debt to income ratio

Lower down payment requirements 3.5%+

Must cover mortgage insurance premium

Available in 15 or 30 year terms

Must abide by loan limits in your area

Bankruptcy in the past okay!

Must move in within 60 days of closing

No Income minimum or maximum

Must be your primary residence

Frequently Asked Questions

An FHA loan is a loan backed by the Federal housing administration available to those with a 580-credit score and above. An FHA loan only requires a minimum of a 3.5% down payment as opposed to the traditional 20%.

An FHA loan, since it is backed by the Federal Housing Administration, protects lenders against defaults on payments allowing for lower down payment options as well as lower interest rates. This also allows lower credit score borrowers to qualify.

FHA loans have stricter criteria and requirements for the type of property you can invest in. There are also limitations on loan amounts allowed as well as the type of loan. FHA also only offers 2 duration's for repayment, 15 or 30 years. You also need to pay up front mortgage insurance for the first year and going forward depending on your down payment.

Yes! Click below to apply for your FHA pre-approval.

Pre-Approval Wizard