FHA Loans

Designed for first-time home buyers and borrowers with limited funds for their down payment. An FHA mortgage is a government-backed loan with more flexible lending requirements than those of conventional loans. Fixed and adjustable rate options are available.

FHA loans are insured by the Federal Housing Administration (FHA) and have qualification requirements.

Features

What You Need to Know

Benefits of an FHA loan

An FHA mortgage is a good option if you have less-than-stellar credit or limited cash for a down payment. You may qualify for an FHA mortgage with a down payment as low as 3.5% and without a long credit history or outstanding credit. Gift or grant money may be allowed to be used for your down payment.

Reduced paperwork available for eligible borrowers qualifying for an FHA Streamlined refinance.

Requirements and Qualifications

  • Down Payment - FHA loans require a minimum down payment of 3.5%.
  • Loan Amount - Maximum loan amounts vary by state and county. Call a banker at 855-376-3168 for details in your area.
  • Property Condition - FHA loans require homes must meet certain conditions and be appraised by an FHA-approved appraiser.
  • Property Ownership - New FHA loans are available only for homes that will be used as a borrower's primary residence.

Trouble knowing where to start? Learn how to get started and what to expect during the home buying or refinancing process in our Education section.

For other questions, read our FAQs or call (855) 376-3168