FHA | FEDERAL HOUSING ADMINISTRATION
FHA LOANS
Ready to start your next homeownership journey? Click the button below to begin our speedy secure pre-approval & application process.
WHAT IS A FHA LOAN?
An FHA (Federal Housing Administration) mortgage loan is a type of home loan that is insured by the U.S. government through the Federal Housing Administration. This program is designed to make homeownership more accessible for individuals with lower income or less-than-perfect credit. It's important to note that FHA loans are primarily intended for first-time homebuyers and those who may have difficulty qualifying for conventional mortgages. Borrowers interested in FHA loans should contact an FHA-approved lender to discuss their eligibility and the specific terms and conditions associated with these loans. Additionally, borrowers are required to pay a mortgage insurance premium (MIP) to cover the FHA's insurance on the loan.
FHA LOAN REQUIREMENTS
To qualify for a FHA Loan you'll need:
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Minimum credit score of 580
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Debt-To-Income Ratio (DTI) lower than 43% in most cases.
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Down payment of 3.5% or more.
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2024 Conforming Loan Limit of $498,257* *FHA Loan Limits are dependent upon subject property county, and loan limits may vary.
WHO'S A GOOD FIT FOR A FHA LOAN?
It's important to note that FHA loans are primarily intended for first-time homebuyers and those who may have difficulty qualifying for conventional mortgages. Borrowers interested in FHA loans should contact an FHA-approved lender to discuss their eligibility and the specific terms and conditions associated with these loans.
LOOKING FOR MORE LOAN PROGRAMS?
Use the button below to return to our Loan Programs page to view additional lending options and programs.