Lower down payment. More forgiving credit.
Backed by the Federal Housing Administration, FHA loans open the door for buyers who are building credit or saving toward a larger down payment.
Government-insured financing built for real-world buyers.
FHA insures the loan, so lenders can approve borrowers with lower scores, higher debt ratios and smaller down payments. In exchange, borrowers pay an upfront and monthly mortgage insurance premium.
Who it fits
- First-time buyers with limited savings
- Credit scores in the 580 to 680 range
- Borrowers with higher debt-to-income ratios
- Buyers using gift funds from family
- Past bankruptcy or foreclosure (after waiting periods)
Let’s find the right fit.
Apply now or talk through your options with Erick.
Why borrowers choose FHA loans.
3.5% down
Qualify with a 580 score and 3.5% down. Scores from 500 to 579 may qualify with 10% down.
Flexible credit
Recent credit hiccups, thin files and higher debt ratios are evaluated with more flexibility.
Gift funds welcome
The entire down payment can come from a family gift or approved assistance program.
Multi-unit homes
Buy a 2 to 4 unit property with 3.5% down, live in one unit and rent the others.
Streamline refinance
Already have an FHA loan? Refinance to a lower rate with minimal documentation and no appraisal.
Assumable
An FHA loan can be assumed by a qualified buyer when you sell, a real advantage when rates rise.
Typical requirements
Credit score of 580 or higher for 3.5% down (500 to 579 with 10% down)
Debt-to-income ratio generally up to 43% to 50%, higher with compensating factors
Property must be your primary residence
Steady employment history, typically two years
Home must meet FHA minimum property standards
Guidelines vary by lender, program and property. Erick will confirm exact requirements for your file.
How it works
Quick call.
Ten minutes on the phone. You tell Erick the goal, he tells you the realistic options.
Pre-approval.
Send documents through a secure link. Most pre-approvals are issued the same day.
Lock and process.
Rate locked, file submitted, updates in plain English every step.
Close.
Sign with a remote online notary where available, or in person. Keys in hand.
FHA loans FAQ
What is FHA mortgage insurance?
FHA charges an upfront premium (usually financed into the loan) and a monthly premium. On most loans with less than 10% down, the monthly premium lasts for the life of the loan. Many borrowers refinance to conventional later to remove it.
What are FHA loan limits?
Limits vary by county and are updated each year. Erick will confirm the current limit for your area.
Can I buy a condo with FHA?
Yes, if the condo project is FHA-approved or qualifies for single-unit approval.
How soon after bankruptcy can I get an FHA loan?
Typically two years after a Chapter 7 discharge, or one year into a Chapter 13 plan with court approval and on-time payments.
Can I use FHA for an investment property?
No. FHA requires that you occupy the home as your primary residence.
Ready to talk numbers?
Call, email or send a quick message. Erick answers questions directly and tells you what fits, and what does not.
