FHA Loans
The most flexible path to homeownership.
Government-backed financing designed to make homeownership accessible with a low down payment and flexible credit requirements — one of the most popular programs for first-time buyers.
Program Highlights
- Down payments as low as 3.5% with a credit score of 580+ (10% down for scores 500–579)
- More flexible debt-to-income and credit guidelines than conventional loans
- Gift funds allowed for the full down payment and closing costs
- Seller can contribute up to 6% of the purchase price toward closing costs
- Available for 1–4 unit properties (you can live in one unit and rent the others)
- 2024/2025 FHA loan limits run roughly $524,225 in most areas up to $1,209,750+ in high-cost counties (limits adjust annually — confirm current-year figures for the subject property's county)
- Both upfront (1.75% of loan amount) and annual mortgage insurance premiums apply
Best For
- First-time and repeat buyers who want a low down payment
- Buyers with limited credit history or past credit challenges
- Borrowers who need gift funds or seller contributions to close
What You'll Need to Qualify
- 580+ credit score for 3.5% down (500–579 with 10% down)
- Property must be your primary residence
- Upfront (1.75%) and annual mortgage insurance premiums apply
- Gift funds allowed for the full down payment and closing costs
Guidelines vary by lender and borrower profile. All loans subject to underwriting approval. Not a commitment to lend.
Good to Know
FHA mortgage insurance is typically required for the life of the loan when the down payment is under 10%, unlike conventional PMI which can be removed once you reach 20% equity — many FHA borrowers plan to refinance into a conventional loan once equity and credit allow.
Common Questions
What credit score do I need?
As low as 580 for 3.5% down, or 500–579 with 10% down.
Can family give me my down payment?
Yes, gift funds from family members are allowed for the entire down payment.
Is FHA only for first-time buyers?
No — repeat buyers can use FHA financing as long as it will be their primary residence.