Back to Programs

FHA Standard

Government backed loans for borrowers who need more flexibility.

FHA loans are a great option for borrowers who may have a lower credit score, or do not have the funds for a large down payment but are still looking to qualify for a mortgage
Low down payment (3.5%) for a first-time home buyer
Maximum loan amount for single unit in a low cost area is $420,680 and $970,800 in a high cost area
FICO® score at least 580 = 3.5% down payment
FICO® score between 500 and 579 = 10% down payment
MIP (Mortgage Insurance Premium ) is required
Borrower must have steady income and proof of employment
The home must be the borrower's primary residence

An FHA loan is a type of government-backed mortgage loan that can allow you to buy a home with looser financial requirements.

The terms available through FHA loan programs can be attractive to borrowers who may not otherwise be able to afford a large down payment or even qualify for conventional mortgages.

FHA loans can be your best option if you have a lower credit score, a higher DTI ratio, or less money saved for a down payment when looking to finance a primary residence.