FHA Loans

First-time home buyers choose FHA loans for their low rates and because they are often easier to obtain.

  • lower down payment
  • more liberal qualifying formula
  • fixed rate
  • FHA is typically a first time home-buyer program. However, it can be used multiple times .
  • 620 credit score
  • 3.5 percent required down payment which can come from a gift , secured borrowed fundsĀ  (under certain circumstances,) retirement plans etc.
  • Loan limit is up to $331,760