Federal Housing Administration (FHA) loans make homeownership attainable with manageable credit guidelines and low down payment requirements.
Purchase a home with as little as 3.5% down. Gift funds from family members are also accepted to help cover costs.
Qualify with credit scores starting as low as 580, making homeownership accessible even with past credit bumps.
FHA loans are assumable, meaning future buyers can take over your existing interest rate if you sell your property.
Score 580+ qualifies for 3.5% down; scores between 500-579 require 10% down.
Minimum 2-year proof of consistent employment and income history.
The property being financed must serve as your primary home.
Includes an upfront MIP payment along with a small monthly insurance premium.