How it works
FHA loans are insured by the Federal Housing Administration. That insurance lets lenders offer more flexible guidelines, which can make homeownership possible sooner for buyers still building credit or savings.
May be a good fit for
- Buyers with credit scores in the 580+ range may qualify for 3.5% down
- Buyers with higher debt-to-income ratios than conventional typically allows
- First-time buyers with limited savings
- Buyers using gift funds for the down payment
Good to know
- FHA loans have an upfront mortgage insurance premium (often financed into the loan) plus a monthly premium
- With less than 10% down, monthly mortgage insurance typically lasts for the life of the loan unless you refinance
- The home must be your primary residence and meet FHA property standards
- FHA loan limits vary by county
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This page is general information, not a commitment to lend or a loan approval. Programs, guidelines, fees and availability can change and depend on your credit, income, assets, property and full underwriting. Not all applicants will qualify.