About FHA Loans
FHA loans are government-backed mortgages that allow lower down payments and more flexible credit requirements. They're ideal for first-time homebuyers and those with limited savings.
FHA Loan Tips
- Down Payment: Minimum 3.5% with 580+ credit score
- Credit Score: 580+ required for 3.5% down, 500+ for 10% down
- MIP: Mortgage Insurance Premium required for life of loan
- Loan Limits: Vary by county and property type
- Property Requirements: Must be primary residence
- Refinancing: FHA Streamline available for existing FHA loans