FHA Loans
Low down payments, flexible credit requirements, and competitive rates. FHA loans make homeownership possible for more people.
FHA Loan Benefits
Why FHA loans are popular with first-time buyers and beyond
Low Down Payment
Put down as little as 3.5% with a credit score of 580 or higher.
Flexible Credit Requirements
Qualify with credit scores as low as 500 (with 10% down) or 580 (with 3.5% down).
Competitive Rates
FHA loans often have lower interest rates than conventional loans.
Gift Funds Allowed
Your entire down payment can come from a gift from family or other approved sources.
Various Property Types
Use an FHA loan for single-family homes, condos, and multi-unit properties.
Assumable Loans
FHA loans can be transferred to a new buyer, potentially at a lower rate.
How to Get an FHA Loan
Your path to homeownership in four steps
Check Your Credit
Review your credit score. You'll need at least 500 (580 for 3.5% down).
Get Pre-Approved
Complete our application to see how much you can borrow.
Find Your Home
Shop for a home that meets FHA property requirements.
Close on Your Loan
Complete the process and move into your new home.
FHA Loan Requirements
- Minimum credit score of 500 (580 for 3.5% down)
- 3.5% - 10% down payment depending on credit score
- Debt-to-income ratio typically under 43%
- Property must be your primary residence
- Home must meet FHA property standards
- Mortgage insurance premium (MIP) required
FHA Down Payment Requirements
Down Payment
With credit score of 580+
Down Payment
With credit score of 500-579
FHA vs. Conventional Loans
| Feature | FHA Loan | Conventional |
|---|---|---|
| Min. Down Payment | 3.5% | 3% |
| Min. Credit Score | 500-580 | 620 |
| Mortgage Insurance | Required (MIP) | Required if <20% down (PMI) |
| MI Removal | 11 years or life of loan | At 20% equity |
| Property Types | Primary residence only | Primary, second home, investment |
FHA Loan FAQs
Common questions about FHA home loans
Ready to explore FHA loans?
See if an FHA loan is right for you. Get pre-approved in minutes.