Buy a Home with as Little as 3.5% Down
FHA loans are designed for buyers who want flexible credit requirements and a low down payment.
FHA loans are designed for buyers who want flexible credit requirements and a low down payment.
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An FHA loan is a mortgage insured by the Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development (HUD). FHA loans are designed for borrowers who may not qualify for conventional financing due to lower credit scores, limited savings, or higher debt-to-income ratios.
Because the government insures the loan, lenders can offer more flexible qualification requirements — including down payments as low as 3.5% and credit scores starting at 580.
One of the lowest down payments available. Gift funds from family members are allowed for the full amount.
Qualify with a 580 credit score for 3.5% down. Scores between 500–579 may qualify with 10% down.
FHA allows debt-to-income ratios up to 50% in some cases, compared to 43–45% for most conventional loans.
FHA loans are assumable, meaning a future buyer can take over your loan at the original rate and terms.
FHA loans are available to a wide range of borrowers — not just first-time homebuyers. If you have steady income and can meet basic credit requirements, you may qualify.
3.5% down minimum. 580+ credit score. Higher DTI allowed (up to 50%). Mortgage insurance required for life of loan (unless refinanced). Government-backed. Assumable.
3–5% down minimum. 620+ credit score typical. DTI capped at 43–45%. PMI drops off at 80% LTV. Not government-backed. Not assumable.
For borrowers with lower credit scores or limited savings for a down payment, FHA is often the easier path to homeownership. Conventional loans may offer better long-term costs for borrowers with strong credit and 20%+ down.
All FHA loans require mortgage insurance, which protects the lender if you default. There are two components:
For loans with less than 10% down, annual MIP lasts the life of the loan. With 10%+ down, it drops off after 11 years. Many borrowers refinance to a conventional loan once they reach 20% equity to eliminate mortgage insurance entirely.
No. FHA loans are available to both first-time and repeat buyers. The only restriction is that the property must be your primary residence.
Yes. FHA allows 100% of the down payment to come from gift funds. The gift must come from an acceptable source — family members, employers, or approved down payment assistance programs.
FHA loan limits vary by county and are updated annually. In most areas, the 2025 limit for a single-family home is $524,225. In high-cost areas, limits can go up to $1,209,750.
Yes, but the condo project must be on the FHA-approved condo list or qualify for the Single Unit Approval process.
Most FHA loans close in 30–45 days. The timeline depends on the appraisal, title work, and how quickly you provide documentation.
Yes. FHA offers a Streamline Refinance option that requires minimal documentation and no appraisal. You can also refinance into a conventional loan to remove mortgage insurance once you have enough equity.
Low down payment. Flexible credit. Get pre-qualified in minutes.
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