FHA loans are designed for real people with real credit. Lower down payment, flexible credit requirements, and government backing that makes lenders say yes.
Flexibility where you need it most
Just 3.5% down on a $200k home is $7,000. Much more achievable than 20% ($40k).
Scores as low as 580 with 3.5% down. Even 500-579 can work with 10% down.
Debt-to-income ratios up to 50% (sometimes higher). Car payment and student loans OK.
Your entire down payment can be a gift from family. No need to save it all yourself.
2 years after bankruptcy, 3 years after foreclosure. Fresh-start friendly.
Federal Housing Administration insures your loan. Lenders take less risk = easier approval.
FHA works great if you're...
Haven't owned a home in 3+ years, or never? FHA is designed for you.
Can't scrape together 20%? 3.5% is way more realistic.
Good (not perfect) credit? FHA doesn't punish you with sky-high rates.
Car payment, student loans, credit cards? FHA is more forgiving with DTI.
The one downside (and it's not a dealbreaker)
Because you're putting less than 20% down, FHA requires mortgage insurance. This protects the lender if you default. You pay two types:
1.75% of loan amount, rolled into your mortgage. You don't pay it out of pocket.
0.55% of loan amount per year, divided into monthly payments.
Same as any mortgage, just easier to qualify
Submit income, credit, employment docs. Get pre-approved in 24-48 hours.
Armed with pre-approval, find the perfect home within your budget.
Home must meet FHA standards. Protects you from buying a dump.
Final approval, sign papers, bring 3.5% + closing costs. Keys are yours!
See if you qualify. No commitment, no pressure.
I'll reach out within 24 hours to discuss your FHA loan options.