Is a FHA loan right for you?
Worried about a low credit score or not being able to afford a large down payment? With less strict requirements, a FHA home loan may be the right loan for you.
Benefits of a FHA loan
- FICO Flexibility: The FHA home loan has less strict FICO score requirements, allowing more people to qualify for a home loan.
- Gift Funds Allowed: Gift funds are allowed for the down payment, which means your family can help.
- Flexible Qualification: Requirements for an FHA loan are generally more relaxed compared to other loans.
FHA loan eligibility requirements
- Credit score higher than 550 with 10% down
- Credit score higher than 580 with 3.5% down
- Ability to cover 3.5% down payment
- Reasonable debt-to-income ratio
- Home must be the borrower’s primary residence
Get started by using one of our FREE tools!
Want to see our actual live rates right now?
We don’t hide our rates because it’s so rare we ever get beat! Go ahead and enter your scenario using the form below to see what your real rate would be right now. Once you’re ready to get started, go ahead and apply now or get a pre-qualification letter. *This is not for Bond or Special programs
Free PreQualification Letter
(You’ll need this to make offers on homes!)
- Makes your offer to buy a home stronger
- Let home sellers know you’re serious
- Helps you know your affordable price range
