FHA Loans
The most accessible path to homeownership for first-time and credit-building buyers.
FHA Loan at a Glance
What Is an FHA Loan?
FHA loans are mortgages insured by the Federal Housing Administration, which operates under the U.S. Department of Housing and Urban Development (HUD). The FHA doesn't lend you the money directly — it insures the loan, which protects the lender if a borrower defaults. That backing is what lets FHA-approved lenders offer easier terms to people who might not clear the bar for a conventional loan.
For a lot of first-time buyers, that's the whole appeal. FHA loans are generally easier to qualify for, with lower down payment requirements and more forgiving credit standards. They do come with loan limits — for 2026, the floor is $541,287 for a single-family home in most areas, scaling up to a ceiling of $1,249,125 in high-cost markets.
One thing to go in with eyes open about: FHA loans require mortgage insurance — both an upfront premium at closing and an annual premium built into your monthly payment. On loans with the minimum down payment, that annual premium generally stays for the life of the loan, which is a real cost difference versus conventional PMI that can be removed.
Who an FHA Loan Is For
FHA is often the most accessible door into homeownership for first-time buyers and anyone who has had trouble qualifying for a conventional loan. Here is what makes it work:
Low Down Payment
As little as 3.5% down with a qualifying credit score.
Forgiving Credit Requirements
More flexible credit standards than conventional loans.
Easier Qualification
Easier overall qualification, which is why it is so popular with first-time buyers.
Government-Insured
FHA insurance gives lenders confidence to approve borrowers they otherwise might not.
Built for Primary Homes
Owner-occupied financing for the home you will actually live in.
A Real First Step
For many buyers, FHA is the bridge to owning now and refinancing later.
Today's FHA Rates
National average rate for 30-year fixed FHA loans.
Source: Optimal Blue (OBMMI) via FRED. As of June 10, 2026.
Rates shown are a national benchmark average (Optimal Blue Mortgage Market Indices, via the Federal Reserve Bank of St. Louis) and are for informational purposes only. They are not an offer, quote, or commitment to lend, and do not reflect any specific borrower scenario, points, fees, mortgage insurance, or APR. Contact us for a personalized rate quote.
Estimate Your FHA Payment
See how an FHA down payment as low as 3.5% affects your monthly payment. Enter any rate to model it — your real rate comes from your application.
This is an estimate for planning purposes only — not a rate quote, loan offer, or commitment to lend. Your actual rate and payment depend on your full application. Contact us for a personalized quote.
How the Process Works
From first conversation to closing day, here is what to expect.
Get Pre-Approved
We review your credit, income, and goals, then issue a pre-approval so you know your budget and can shop with confidence.
Find Your Home
Make offers backed by a real pre-approval. Sellers take you more seriously when your financing is lined up.
Submit Your Application
Once you are under contract, we finalize your application and lock your rate.
Underwriting & Appraisal
The lender verifies your details and orders an FHA appraisal to confirm the home meets condition standards. Our in-house processing keeps this moving.
Close
Sign your final documents, fund the loan, and get the keys. We are with you through the final signature.
Eligibility
- A minimum credit score around 580 for the 3.5%-down option; borrowers with scores between 500 and 579 may still qualify but generally need 10% down.
- The loan amount can't exceed the FHA limit for your county.
- Debt-to-income ratio typically needs to land within FHA guidelines (often around 43%, with some flexibility).
- The property must be your primary residence and meet FHA's condition standards.
Credit, down payment, and DTI thresholds are set by FHA and individual lenders and can change — confirm current requirements with your loan officer.
What Our Clients Say
“Don was incredible to work with throughout my entire home-buying process as a first-time buyer. He was always quick to respond, happy to run different numbers for me, and consistently helped me stay on top of my timelines and due dates.”
Cailyn Hankins
Google Review
FAQs
FHA Loan FAQs
As little as 3.5% if your credit score is 580 or above. If it is between 500 and 579, you will typically need 10% down.
FHA charges both an upfront mortgage insurance premium (paid at closing, often rolled into the loan) and an annual premium spread across your monthly payments. On minimum-down-payment loans, the annual premium usually lasts the life of the loan — unlike conventional PMI, which can be dropped at 20% equity. Some borrowers eventually refinance into a conventional loan to shed it.
No. FHA financing is for owner-occupied homes — you are expected to move in (generally within 60 days of closing) and live there.
They vary by county. For 2026, the single-family floor is $541,287 in most areas and the ceiling is $1,249,125 in high-cost areas. Your county's limit falls somewhere in that range based on local home prices.
Let's find the right loan for you
Get pre-approved in minutes, or talk it through with a local loan officer first.