Designed for first-time home buyers and step-up borrowers, an FHA loan is a government-provided loan program that may be easier to qualify for than conventional loans. It’s a good option if you have less-than-stellar credit or limited cash for a down payment.

Subject to credit approval.

Features

What You Need to Know

FHA loans are insured by the Federal Housing Administration (FHA) and have eligibility requirements and other conditions, such as:

  • FHA loans require a minimum down payment of 3.5%.
  • Gift or grant money may be allowed to be used for your down payment.
  • Homes must meet certain conditions and be appraised by an FHA-approved appraiser.
  • Reduced paperwork is available for eligible borrowers qualifying for an FHA Streamlined refinance.
  • New FHA loans are available only for homes that will be used as a borrower's primary residence.
  • Maximum loan amounts vary by state and county. Call (855) 558-8551 for details in your area.