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Get an FHA Loan with just 3.5 % Down
- Down Payment as low as 3.5%
- DTI Ratio Up to 57%
- Co signer allowed
- Gift money allowed
- 10-21 days Closing
- No impact on credit
- Takes 1 min
Is FHA the Right Loan for You?
FHA loans can be a strong option for first-time homebuyers, buyers with limited savings, borrowers who want a lower down payment or borrowers who may not qualify for a conventional loan yet.
An FHA loan may be a good fit if you:
FHA is not automatically the best choice for every borrower.
In some cases, a conventional loan may cost less over time. The right option depends on your full scenario.
- want a low down payment mortgage option
- are buying your first home
- need more flexible credit guidelines
- want to compare FHA with conventional financing
- need a more practical path to qualifying
FHA Loan Requirements
To qualify for an FHA loan, lenders usually look at:
General FHA Loan Requirements
- Credit score: typically 580+ for 3.5% down; 500–579 may require 10% down
- Down payment: minimum depends on credit profile
- Occupancy: the home must usually be your primary residence
- Income and employment: stable, documented income is required
- Debt-to-income ratio: lenders review your monthly debts against your income
- Cash to close: you may need funds for down payment, closing costs, and prepaid items
- Mortgage insurance: FHA loans require upfront and ongoing mortgage insurance
- Property standards: the home must meet FHA appraisal and property requirements
- Loan limits: maximum loan amount depends on the county where the home is located
A Better FHA Loan Experience: Saying Yes to First Time Home Buyers Since 1996
From pre-approval to closing, we help first time home buyers navigate the process with more clarity, better support, and fewer last-minute issues.
Other lenders/Banks
Other
Lenders shopped
100+
Limited to 1
Non QM Loans
Yes
Limited
Minimum credit score
550
640+
DTI Requirements
55%
43%
Fast-track Underwriting
Yes
No
Approval Rate
93%
Lower
Closing time
7-21 days
30 days
Dedicated Loan Officer
Yes
No
Availability
24/7
Limited
Average response time
<1hour
<1 day
Today's live rates
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30 years of 5-star mortgage service
For over 30 years, we've built our reputation on excellent service and a mortgage experience that puts borrowers first.
Frequently asked questions
What is an FHA loan?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It is designed to help qualified home buyers purchase a primary residence with more flexible guidelines than some conventional loan programs.
Who should consider an FHA loan?
An FHA loan may be a good fit for buyers who want a lower down payment option, need more flexible credit guidelines, or are comparing FHA vs. conventional financing before choosing a mortgage.
What is the minimum down payment for an FHA loan?
Qualified borrowers may be able to buy a home with as little as 3.5% down on an FHA loan. The exact requirement depends on credit profile, lender guidelines, and the overall loan scenario.
What credit score do you need for an FHA loan?
Credit score requirements vary by lender and full loan file, but FHA loans are often considered by buyers who need more flexibility than some conventional programs offer. The best way to know what may fit is to review your full scenario with a loan officer.
Can you use gift funds for an FHA loan?
Yes. Eligible gift funds can often be used toward the down payment, closing costs, or other allowed costs on an FHA loan, as long as they meet documentation and program requirements.
Is FHA better than a conventional loan?
Not always. FHA may be a better fit for some buyers because of lower down payment and more flexible qualification guidelines, while conventional may be a stronger option for borrowers with stronger credit or different long-term cost goals.
Can you qualify for an FHA loan with a high debt-to-income ratio?
In some cases, yes. FHA loans can allow more flexibility on debt-to-income ratio than some other loan types, but approval depends on the strength of the full file, compensating factors, and lender-specific guidelines.
Is an FHA loan only for first-time home buyers?
No. FHA loans are popular with first-time buyers, but they are not limited to first-time home buyers. Repeat buyers may also qualify if they meet FHA and lender requirements.
Start Your Pre Approval
Start your pre-approval to view instant live rates and review the right mortgage path with a loan officer.
- No impact on credit
- Takes 1 min
- No docs needed
