FHA loans are insured by the Federal Housing Administration, making them an excellent choice for first-time homebuyers and borrowers with lower credit scores.
Why Choose an FHA Loan?
- As low as 3.5% down payment
- More lenient credit requirements (minimum 580 for 3.5% down)
- Higher debt-to-income ratios allowed
- Gift funds accepted for down payment
- Competitive interest rates
Who Qualifies?
FHA loans are designed for borrowers who may not qualify for conventional financing. With a credit score of 580+, qualify with just 3.5% down. Scores 500-579 may qualify with 10% down.
Mortgage Insurance
FHA loans require both an upfront MIP and an annual MIP. The upfront MIP can be financed into your loan.
We'll guide you through FHA requirements and ensure a smooth closing. Contact us to get started.