FHA Loan Programs
Ideal for first-time and repeat homebuyers seeking low down payment options and flexible credit guidelines.
Why Choose FHA?
The Federal Housing Administration (FHA) offers loan programs designed to help both first-time and repeat homebuyers. While first-time buyers often benefit from FHA financing, you do not need to be a first-time buyer to qualify. Low down payment requirements and flexible underwriting guidelines make FHA loans among the most accessible home financing options.
FHA offers refinancing options that can lower payments, reduce rates, provide cash-out options, fund repairs and renovations, and support purchases from homes in great condition to fixer-uppers.
FHA Qualifications
- •Credit scores typically start at 580 for minimum down payment options
- •Credit scores between 500–579 may be eligible with higher down payment requirements
- •Credit history reviewed as part of the overall underwriting evaluation
- •Bankruptcy and foreclosure waiting periods apply per FHA guidelines
- •Stable employment and income history required
- •Self-employed income eligible with appropriate documentation
- •Social Security and disability income allowed with required continuance
- •Debt-to-income ratios typically up to 45%, with higher ratios possible based on underwriting approval
- •Down payments as low as 3.5% with qualifying credit
- •Gift funds allowed for down payment and closing costs
- •Seller contributions permitted within FHA limits
- •Reserves may be required depending on loan scenario
- •Loan amounts subject to FHA county limits
- •Primary residence only
- •Single-family and multi-family properties (1–4 units)
- •Condominiums allowed if FHA-approved
- •Manufactured homes eligible with additional requirements
- •Property must meet FHA appraisal and property condition standards
FHA Program Options
The most common FHA loan program for home purchases.
- Credit scores typically starting at 580 for standard FHA financing
- 3.5% minimum down payment with qualifying credit
- 1.75% Upfront Mortgage Insurance Premium (financeable)
- Fixed-rate terms available (30, 25, 20, 15, and 10-year options)
- Debt-to-income ratios typically up to 45%, with flexibility based on underwriting
- Primary residence only
- Seller contributions allowed up to FHA limits
Lower your rate and change loan terms.
- Lower interest rate or change loan terms
- Limited cash back permitted per FHA guidelines
- 1.75% Upfront Mortgage Insurance Premium (financeable)
- Fixed-rate and ARM options available
- Credit and income verified per FHA requirements
Access home equity while refinancing.
- Access home equity while refinancing
- Loan-to-value limits apply (typically up to 80%)
- Use proceeds to consolidate debt or access cash
- Credit and income verified per FHA guidelines
- Multiple loan term options available
Purchase a home and include renovation costs in one loan.
- 3.5% down payment with qualifying credit
- Renovation costs included in one FHA loan
- Repairs completed according to FHA renovation guidelines
- No separate construction loan required
- Appraisal based on after-improved value
- Multiple loan term options available
Quick refinance for existing FHA loan owners.
- Available for existing FHA loans only
- No appraisal required in most cases
- Reduced documentation requirements
- Lower interest rate or change loan terms
- Credit review limited per FHA guidelines
Refinance and add renovation costs to your loan.
- Renovation financing available when refinancing an existing FHA loan
- Property appraised before and after improvements
- Renovation scope subject to FHA guidelines
Designed for minor home repairs and improvements.
- Designed for minor home repairs and improvements
- Limited renovation scope per FHA guidelines
- Simplified renovation process
- Property appraised with renovation consideration
- Available for purchase or refinance transactions
Available on select HUD-owned properties only.
- Available on select HUD-owned properties only
- $100 minimum down payment
- Property eligibility determined by HUD
- Buyer must occupy the property as a primary residence
- FHA financing rules otherwise apply