Loan Program
FHA loans — the friendliest path for first-time buyers.
3.5% down, forgiving credit guidelines, and rates that hold up against conventional for buyers under 720 FICO.
3.5%
Min down
580
Min FICO
100%
Gift funds
15 / 30 yr
Term
Best fit for
- First-time buyers with limited savings
- Borrowers rebuilding credit after a setback
- Buyers using a 203(k) to roll in light renovations
Worth knowing
- Mortgage insurance is usually for the life of the loan
- Property must meet FHA appraisal standards (no peeling paint, safety issues)
- County loan limits cap the maximum loan size
Questions we hear
- Is FHA only for first-time buyers?
- No — FHA is available to any owner-occupant who meets the credit and occupancy rules, regardless of whether you've owned before.
- What's the catch with mortgage insurance?
- FHA loans carry both an upfront premium (financed into the loan) and a monthly premium that, for most files, stays for the life of the loan unless you refinance into conventional later.
- Can I buy a fixer-upper with FHA?
- Yes — FHA 203(k) renovation loans roll purchase price and repair costs into one mortgage. Ask us about the limited and standard versions.