What Is A FHA Loan?
For those looking to buy a home but may lack credit, a down payment, or are unable to cover closing costs, a Federal Housing Administration (FHA) loan may be the solution. FHA financing was deeveloped to provide homebuyers with an alternative to conventional financing, and includes attractive and flexible guidelines.
Minimum Fico Score
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580-620 with with debt-to-income limits -
580 high balance with limits
Down Payment
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3.5% minimum borrower
occupancy
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Primary residence
Other Highlights
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No mortgage insurance with 20% down
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100% gift funds allowed
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Up to 9% seller contribution
**This communication is for information purposes only, this is not a commitment to lend. individual buyer's financial circumstances may be different and may result in different interest rates, costs, and payments. all programs are subject to changes or cancellation at any time and without notice. Please consult your licensed loan Originator to learn more about mortgage products, your eligibility, and ask an offcial loan estimate before choosing your loan.