FHA Loans are geared toward hard-working families in low- to moderate-income brackets. Down payments are lower than conventional mortgages. And you can choose from various terms with fixed or adjustable rates.
Key Features of FHA Loans
- Allows you to purchase a home when you have limited resources
- Ideal for first-time homebuyers from low- to moderate-income families
- Purchase a home using a lower down payment
|Down Payment||3.5% of the final loan amount|
|Terms||10, 15, 20, 25, 30 years, fixed and ARM|
|Credit Score||640* minimum|
|Mortgage Insurance||Yes, one-time, up-front and monthly|
|Maximum Loan Limit||Yes, varies by county|
|* Unless approved by FHA Choice Manual Underwrite Process|
Questions? Get started now, and a licensed Loan Officer will reach out to you shortly.