Buy a home with as little as 3.5% down and more flexible credit guidelines.

✔ Down payments starting at 3.5%
✔ Credit scores starting around 580
✔ Higher debt-to-income flexibility
✔ Gift funds allowed

[ Speak With An FHA Loan Expert Today]

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What Is an FHA Loan?

An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It’s designed to help buyers qualify with:

• Lower down payments

• More flexible credit requirements

• Higher allowable debt-to-income ratios

FHA loans are one of the most popular options for:

• First-time homebuyers

• Buyers with limited savings

• Credit recovery borrowers

• Moderate-income households

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FHA Loan Quick Requirements

Final approval depends on full credit and underwriting review.

[ Start My FHA Pre-Approval ]

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How Much Home Can I Afford with FHA?

FHA loans allow higher debt-to-income ratios than many conventional loans, which may increase your buying power.

Maximum Monthly Payment Estimate:
We calculate the lower of:

• 28% of your gross income (housing ratio)
• 36% of your gross income minus other monthly debts

Example:
Gross Income: $5,000
Other Debt: $500

28% rule = $1,400
36% rule = $1,300

Maximum Estimated PITI = $1,300

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Why Buyers Choose FHA Loans

1. Lower Down Payment

Just 3.5% down with qualifying credit.

2. Flexible Credit Requirements

Past credit challenges may still qualify.

3. Higher Debt-to-Income Limits

Helpful if you have student loans, car payments, or credit cards.

4. Gift Funds Allowed

Family assistance can be used for down payment and closing costs.

5. Assumable Loan Feature

FHA loans may be assumable by a future buyer.

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FHA vs Conventional Loans

Which Is Better for You?

FHA May Be Better If:

✔ Your credit score is below 680
✔ You need flexible DTI approval
✔ You have limited savings

Conventional May Be Better If:

✔ You have strong credit
✔ You want to avoid long-term mortgage insurance

[ Compare My Options ]

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FHA Loan Property Requirements

FHA loans require the property to meet minimum safety and livability standards.

Eligible property types include:

• Single-family homes

• 2–4 unit properties (owner-occupied)

• FHA-approved condos

• Manufactured homes (eligible foundations)

Primary residence only — no investment properties.

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FHA Mortgage Insurance Explained

FHA loans require two types of mortgage insurance:

1. Upfront Mortgage Insurance Premium (UFMIP)

2. Annual Mortgage Insurance (monthly)

This insurance protects the lender and allows more flexible qualification.

In many cases, borrowers refinance out of FHA later once equity improves.

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FHA Loan FAQs

1. What credit score do I need for an FHA loan?
Many FHA borrowers qualify with credit scores starting around 580 (often with 3.5% down). Some scenarios may be possible with lower scores, but requirements can vary by lender and overall file strength.

2. Can I qualify with past late payments?
Yes. Many borrowers can still qualify with prior late payments depending on how recent they were, how severe, and whether the issue has been resolved. A strong recent payment history and a brief explanation can help.

3. How much is FHA mortgage insurance?
FHA typically has two types of mortgage insurance: an Upfront Mortgage Insurance Premium (UFMIP) and annual mortgage insurance that is usually paid monthly. The exact cost depends on factors like your loan amount, term, and down payment.

4. Can I use gift funds?
Yes. FHA loans generally allow gift funds for the down payment and closing costs from eligible donors (such as family). Proper documentation is required.

5. Are FHA loans only for first-time buyers?
No. FHA loans are available to first-time and repeat buyers as long as the home will be your primary residence and you meet qualifying guidelines.

6. Can I buy a duplex with FHA?
Yes. FHA allows eligible 2–4 unit properties (including duplexes) as long as you live in one unit as your primary residence and meet standard FHA requirements.

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Is an FHA Loan Right for You?

FHA loans may be ideal if:

✔ You’re a first-time homebuyer
✔ You have limited savings
✔ You’re rebuilding credit
✔ You need higher DTI flexibility

FHA loans may not be ideal if:

✘ You’re purchasing an investment property
✘ You want to avoid mortgage insurance
✘ You have strong credit and 20% down

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Work With FHA Specialists

We guide buyers through:

• Pre-approval

• Income calculation

• Credit review

• Property eligibility

• Appraisal preparation

Our goal is to make the approval process smooth and predictable.

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Ready to Buy with FHA?

Programs and approval guidelines can change.
Let’s structure your approval the right way from the start.

For more information or to start your application, contact MORTGAGEinc today, info@mortgage-inc.com!