Loan Options

FHA Loans

“A flexible option for first-time and returning buyers.”

FHA loans are mortgages insured by the Federal Housing Administration. They're popular with first-time buyers because they often allow lower down payments and more flexible credit qualifying than conventional loans. For qualified borrowers, an FHA loan may allow a down payment as low as 3.5%.

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Who it may be a good fit for

First-time buyers, or repeat buyers who want flexible qualifying
Borrowers whose credit is still improving
Buyers who have a smaller amount saved for a down payment

Key things to know

FHA loans include mortgage insurance premiums (MIP); depending on your down payment, MIP may last the life of the loan
The home generally must meet FHA property standards
FHA loan limits vary by county and change over time

What you'll typically need

Recent pay stubs and W-2s (or tax returns if self-employed)
Bank and asset statements
Photo ID and details on your monthly debts

Last reviewed: July 2026. This page is general education, not a loan approval or commitment to lend; program details vary by lender and can change. Learn more from U.S. Department of Housing and Urban Development (HUD).

Good to Know

FHA Loans FAQs

What credit score do I need for an FHA loan?

FHA is known for flexible credit qualifying, and some borrowers qualify with lower scores than they expect. Your exact options depend on the full picture — let's talk through yours.

Does an FHA loan have mortgage insurance?

Yes. FHA loans include a mortgage insurance premium (MIP). Depending on your down payment, it may remain for the life of the loan, which is worth weighing against a conventional option.

Can I use an FHA loan as a first-time buyer?

Absolutely — FHA is one of the most popular options for first-time buyers, though it's available to repeat buyers too.

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