A low down payment could be the key that unlocks the door to your dream home! FHA loans, backed by the Federal Housing Administration, were created with first-time buyers in mind—especially those with less-than-perfect credit or past financial challenges. But today, these loans are available to anyone, even homeowners looking to refinance.
FHA loans offer flexibility in credit, income, and down payment requirements, giving hope and opportunity to those who may not qualify for Conventional loans. Whether you’re starting fresh or seeking a second chance, an FHA loan can help make your homeownership dreams a reality.
FHA loans require as little as 3.5% down, making homeownership more accessible, especially for first-time buyers.
FHA loans are available to borrowers with credit scores as low as 580, making it easier for those with less-than-perfect credit to qualify.
FHA loans are more lenient with debt-to-income ratios, offering flexibility for borrowers with existing debt.
Since FHA loans are insured by the government, lenders are more likely to approve borrowers who might not qualify for Conventional loans.
Homeowners can use FHA loans to refinance their existing mortgage, often to secure a lower interest rate or better terms.
FHA loans can be assumed by a new buyer, meaning if you sell your home, the buyer can take over your existing loan, potentially at a lower interest rate.