FHA Financing

FHA loans are helping many people realize their dreams of becoming homeowners. An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). Certain criteria apply to qualify for an FHA loan.

FHA loans are popular among first-time homebuyers or those who cannot afford large down payments.

Who qualifies for an FHA loan?

  • Down payments of at least 3.5%, can be from your own funds, approved gift source, or grant program.

  • A minimum credit score of at least 620

  • Must have steady employment history for the past 2 years

  • Must have a valid social security number, lawful residency in the U.S, and be at least 18 years of age.

  • Typically, must be 2 years out of bankruptcy and have re-established good credit.

  • Previous foreclosure _ must be 3 years from the date of the Sheriff's Sale.


FHA loan requirements as set by the Federal Housing Authority:

  • FHA loans are only available for primary residence occupancy

  • Borrowers must have a property appraisal from an FHA-approved appraiser.

  • FHA loans require financing of Upfront Mortgage Insurance Premium (UFMIP). Included in your monthly mortgage payment.


Contact your loan officer to see which loan product best fits your individual needs!