Federal Housing Administration Loans

Federal Housing Administration (FHA) loans are good for first-time home buyers and for those who need more financial flexibility. With lower rates and down payment requirements, FHA loans can make a big difference.

What is an FHA loan?

FHA loans were created to help people buy their first home. Since they're insured by the FHA, these loans offer more flexibility in their lending requirements.

Benefits
  • Lower down payment requirements
  • Up to 96.5% financing available for home buyers
  • Good for people with lower credit scores
Requirements
  • Mortgage Insurance (MI) is required on all FHA loans
  • Must keep 1-2 mortgage payments in the bank
  • No bankruptcies in the last 24 months or foreclosures in the last 36 months

Explore other loan options

Conventional loans

A popular option for anyone with good credit and a down payment of 20% or more.

Jumbo loans

For people looking at homes in higher price ranges and in higher-cost housing markets.

Veterans Affairs (VA) loans

Offered to U.S. servicemembers, veterans and military spouses, and are guaranteed by the Department of Veterans Affairs.

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