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FHA Loans

FHA loans: built for first-time buyers.

Government-backed, lower barrier to entry. If your credit isn't perfect or your savings are tight, FHA is usually the fastest way into a home.

See if you qualify 302-600-3197

Who it's for

  • Credit scores as low as 580 for 3.5% down, 500–579 with 10% down
  • First-time and repeat buyers both qualify
  • Higher debt-to-income tolerance than conventional

The tradeoff

FHA loans require mortgage insurance for the life of the loan in most cases. That's the cost of the lower entry bar. We'll show you the real monthly number, insurance included, so there's no surprise at closing.

What you'll need

Steady employment history, a credit score in range, and enough for the minimum down payment plus closing costs.

Frequently asked

What credit score do I need for an FHA loan?+

A score of 580 or higher qualifies for the 3.5% down payment option. Scores between 500 and 579 may still qualify with 10% down.

How much is the down payment on an FHA loan?+

3.5% of the purchase price with a credit score of 580 or higher. Down payment funds can come from savings, gifts, or eligible assistance programs.

Do FHA loans require mortgage insurance?+

Yes. FHA loans require mortgage insurance for the life of the loan in most cases. That's the tradeoff for the lower credit and down payment thresholds.

Can I use an FHA loan more than once?+

Generally yes, though you can typically only have one FHA loan at a time. We'll walk through your specific situation.

Contact

Talk to Our Team Directly

No call centers, no runaround. Reach out and get real answers on what you qualify for before you fall in love with a house.