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There’s no reason for low credit or income to hold you back from hitting your financial goals. Get a down payment as low as 3.5% and select flexible terms with an FHA mortgage loan.

Key Features

  • Low Down Payment
  • Free Pre-Approval
  • Quick Decisions
  • Easier to qualify than a standard loan
  • Available in fixed rate or ARM
  • Down payments as low as 3.5%
  • Flexible terms up to 30 years
  • Balloon payment options not available
  • Requires FHA mortgage insurance
  • Pre-qualification available
  • Quick decisions, and local service
  • Mortgage insurance is built in, does not require additional PMI purchase

FHA loans make a home mortgage available even if credit scores and income fall below the traditional measures for a home mortgage. Some of the basic qualifications are:

  • Two years of steady employment
  • Credit score of 580 or higher (or no credit score at all)
  • Any bankruptcy must be at least two years old
  • Any foreclosure must be at least three years old
  • Your new mortgage payment should not exceed 30% of your gross income (before taxes) 

Additionally, there are lending limits associated with FHA loans. These vary by county. See the maximum home value for which you can apply for an FHA loan.