Choose low down payments with an FHA loan
Perfect for first-time buyers and those with less-than-perfect credit, FHA loans make homeownership more accessible.
Who's it for?
FHA loans are designed for homebuyers who may not qualify for conventional loans due to lower credit scores or limited savings. If you’re a first-time buyer or need a more flexible lending option, an FHA loan can help you secure a home with a lower down payment and easier qualification standards.
FHA Loan benefits
- Down payments as low as 3.5%
- More lenient credit score requirements
- Competitive interest rates
- Government-backed security for lenders
- Lower closing costs compared to conventional loans
- Available for primary residences only
Eligibility requirements
To secure a FHA Loan, you’ll need to meet the following requirements:
- Minimum credit score of 580 for a 3.5% down payment (500-579 may qualify with 10% down)
- Steady employment history or proof of income
- Debt-to-income (DTI) ratio generally under 57%
- Mortgage insurance premiums (MIP) required
- Home must meet FHA property standards
Find out if a FHA Loan loan is right for you
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