FHA Loan
With a down payment as low as 3.5% and more flexible credit score requirements, an FHA loan makes it easier to achieve your homeownership goals.
Simplifying Homeownership.
Simplifying Homeownership.
3.5% Down Payment
Make a down payment of only 3.5% of your home's purchase price.
Lower Credit Requirements
Your credit doesn't need to be flawless, and you may still qualify even with a history of financial challenges.
Flexible Borrowing Options
Select a 15-year or 30-year term for purchasing a home or refinancing your existing mortgage.
3 Simple Steps to Secure Your Loan
Apply Online
Start your journey to homeownership by submitting a simple online application, providing key financial details to help us match you with the best loan options.
Chat with an Expert
Connect with one of our experienced loan experts who will guide you through the process, answer any questions, and help you find the best mortgage solution for your needs.
Close Your Loan
Once your loan is approved, we'll guide you through the final steps to close, ensuring a smooth and timely process to get you into your new home.
Frequently Asked Questions
Here are answers to common questions about this loan, gathered from people like you during our research.
Yes, you can have a co-borrower on your FHA loan. At least one borrower must live in the home as their primary residence.
A co-borrower can help improve your chances of qualifying for a home loan, depending on your financial situation.
To qualify for the 3.5% down payment on an FHA loan, your co-borrower must be a family member. The FHA defines family members as:
- Parents (including stepparents and foster parents)
- Spouses or domestic partners
- Children (including stepchildren, foster children, and adopted children)
- Siblings (including step-siblings)
- Grandparents (including step-grandparents and foster grandparents)
- Aunts and uncles
- In-laws
Yes, you can choose to make a larger down payment.
Why pay more upfront? The more you put down, the lower your monthly mortgage payment will be.
Alternatively, you could go with the minimum down payment and use the extra funds for closing costs. We’ll help you determine which option is best for your situation.
No, repeat homebuyers can also qualify for FHA loans. You can also use an FHA loan to refinance your existing mortgage.
FHA loans are government-backed, which often results in lower rates compared to conventional mortgages.
Your interest rate will depend on factors such as your financial history, loan amount, down payment, and other considerations.
Yes, you may be able to use certain types of down payment assistance when you qualify for an FHA loan. Our Home Loan Experts can help determine what assistance you might be eligible for.
An FHA loan refinance allows you to replace your current mortgage with a new one, usually with updated loan terms.
An FHA simple refinance is for homeowners with an existing FHA loan who want to lower their interest rate or monthly payment. You can also switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan.
An FHA streamline refinance is available for those with an FHA loan, and it typically doesn't require an appraisal or detailed credit report.
An FHA cash-out refinance lets you take out a larger mortgage and receive the difference in a lump sum.
