Makes homeownership more attainable!

What is an FHA loan?

FHA loans are considered government mortgage loans. The loan is funded or originated by the mortgage company but has a guarantee from the Federal Housing Administration (FHA).

FHA loans are a good option for first time homebuyers with little saved for a down payment, borrowers with low-to-moderate income and those with lower credit scores. Because the loan is backed by the federal government, it is considered less risky for the lender than a conventional loan and therefore, can be easier to qualify and requires a smaller down payment. Typically, a 3.5% minimum down payment and a minimum credit score of 580 is required. This program allows the down payment to be 100% gifted!

Unlike a conventional loan, that doesn’t require PMI with 20% down, FHA loans require a Mortgage Insurance Premium (MIP) regardless of the down payment. However, if you have at least 10% down, the MIP is only charged for the first 11 years of the loan. The annual MIP you will pay varies based on the loan amount and term, the size of your down payment, and your Loan to Value (LTV) ratio.

FHA loans have maximum loan amounts you can borrow, and these limits are based on the property values in a given geographical location. In 2023, high-cost areas have a limit of $1,089,300. For counties in non-high-cost areas, the limit is $472,030. To see the loan limits for your area, go to the FHA mortgage limits page by clicking here:  FHA mortgage limits page.


  • Low Down Payment Options At 3.5%
  • Seller Contributions As Much As 6%
  • No Income or Purchase Price Limits
  • Flexible Credit Qualifying
  • No First Time Home Buyer Requirements
  • 100% Gifted Deposits Allowed