FHA
Minimal upfront cost, flexible terms
Turn your dream home into reality with a low down payment, flexible credit options, and personalized support every step of the way.
Guiding homebuyers through financing hurdles
With lenient qualification standards and lower upfront costs, FHA loans make homeownership within reach. Ideal for first-time buyers, those wanting a smaller down payment, or anyone with a moderate income, an FHA loan might be just what you need.
FHA benefits
- Homeownership made attainable with a small down payment, even if your savings are limited.
- More lenient credit requirements make approval possible for a wider range of applicants.
- FHA loans allow higher debt-to-income ratios than conventional loans, making homeownership more accessible.
- Gift funds can be used for your down payment and closing costs, expanding your financing options.
- Some borrowers benefit from lower mortgage insurance premiums compared to private mortgage insurance
- With limited lender fees, you’re shielded from unnecessary closing costs.
Qualification criteria
- Lower credit qualifications are available, with options for smaller or larger down payments depending on your credit history
- Property must be your primary residence not an investment or vacation home
- A steady employment history demonstrating consistent income stability.
- Typically, your debt-to-income ratio shouldn’t exceed 43%, though exceptions may be possible.
- Applicants should not have had a foreclosure within the last three years or a bankruptcy within the last two years.
- Mortgage insurance is mandatory regardless of your down payment amount.