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FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) – which is part of HUD – insures these loans, so your lender can offer you a better deal. FHA allows a buyer to purchase a home with as little as 3.5% down!

FHA loans offer:

  • FHA Loans are designed for first time homebuyers or low to moderate income borrowers who are unable to make a large down payment.
  • FHA loans allow you to borrower up to 96.5% of the value of the home as long as the property is intended to be your primary residence with a new minimum credit score as low as 550!
  • FHA offers both fixed and adjustable rate loans.

What does FHA have for you?

Buying your first home?

FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be contributed by the seller or covered by a gift. Qualify with a credit score as low as 550! Available on 1-4 unit properties.

Want a fixer-upper?

FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs – all in one loan.

Financial help for seniors

Are you 62 or older? Do you want to live in a new home free of monthly mortgage payments? If you can answer “yes” to both of these questions, then the FHA Reverse Purchase Mortgage might be right for you. It lets you purchase your new home with a cash down payment and the rest as part of a reverse mortgage.

Want to make your home more energy efficient?

You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about manufactured housing and mobile homes?

Yes, FHA has financing for mobile homes and factory-built housing for those who own the land that the home is on.


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