FHA Loans
Lower down payments and flexible credit guidelines.
FHA loans are insured by the Federal Housing Administration. Their lower down payment and more flexible credit guidelines make them a popular choice for first-time buyers and borrowers who are still building their credit.
FHA Loans at a Glance
3.5% down payment
Borrowers with a credit score of 580 or higher may qualify with 3.5% down. Scores from 500 to 579 generally require 10% down.
Flexible credit guidelines
FHA guidelines are designed to work for borrowers with less-than-perfect credit or a limited credit history. Individual lenders may set their own minimums.
Gift funds welcome
Your down payment can come from a gift from an eligible donor, such as a family member, with proper documentation.
FHA mortgage insurance
FHA loans carry an upfront mortgage insurance premium, usually financed into the loan, plus an annual premium paid monthly. With less than 10% down, it generally lasts for the life of the loan.
Primary residences, 1 to 4 units
FHA loans are for homes you’ll live in, including duplexes, triplexes, and fourplexes, up to your county’s FHA loan limit.
Assumable and streamline options
FHA loans can be assumed by a qualified buyer, and existing FHA borrowers may be able to lower their rate with an FHA streamline refinance.
Eligibility, loan limits, and mortgage insurance requirements vary and are subject to change. All loans are subject to credit approval and underwriting guidelines. Barrett Financial Group is not affiliated with or endorsed by HUD or the FHA.
FHA Loan Guides
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FHA vs. Conventional Loans: Which Mortgage Is Better for You?
FHA vs. conventional: compare credit and DTI flexibility, down payments, mortgage insurance, interest rates, and property standards to see which mortgage fits you.
Wondering if an FHA loan fits?
Every scenario is different. Talk it through with a Solido Group loan officer and compare FHA with your other options.
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