FHA Loan Programs
Our FHA loan program is designed to make homeownership accessible for a wide range of buyers, especially those with lower credit scores or limited savings for a down payment. Backed by the Federal Housing Administration, FHA loans offer flexible qualification guidelines and are popular with first-time homebuyers.
FHA Loan Programs
FHA loans are a great option if you need a lower down payment or have a lower credit score. The program also allows for more flexible underwriting, making it easier for more buyers to qualify.
If you’re interested in learning more about FHA loans and whether you qualify, contact us today to get started on your path to homeownership!
Eligibility Requirements:
- Minimum down payment as low as 3.5% if your credit score is 580 or higher
- For credit scores between 500 and 579, a 10% down payment is required
- Flexible credit requirements-borrowers with less-than-perfect credit, or even a past bankruptcy or foreclosure, may still qualify\
- Debt-to-income ratio can be up to 50% in some cases, making it easier to qualify if you have other debts
- Mortgage insurance premium (MIP) is required, both upfront and annually
- Down payment funds can come from savings, gifts from family, or down payment assistance programs
- Available for primary residences with 1-4 units
