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Affordable homeownership with a low down payment and monthly payments options.

Federal Housing Administration Loan (FHA)

These loans are backed by the government and designed to help buyers who are still building their credit, buyers who have limited funds for a down payment, or buyers trying to cover things like closing costs. This product was developed as an alternative to conventional financing and includes flexible guidelines and requirements. FHA loans are offered with a fixed- or adjustable-rate.

What are the benefits of an FHA loan?

  • FHA loans require a smaller down payment than a conventional loan, typically as low as 3.5 percent of the purchase price; this makes it easier to afford a home, particularly for first-time buyers.
  • Because FHA loans are government-backed, they come with less stringent credit requirements.
  • They come with fewer closing costs than a conventional loan, which may be helpful for buyers who don’t have a lot of cash available.
  • Sellers may give up to 6 percent of the home’s purchase price to an FHA buyer to cover closing costs and pre-paid costs.

If you're interested in learning more about our FHA loan or want to see if you qualify, please click here.

More information:

How Debt to Income (DTI) Ratio Can Affect a Borrower’s Mortgage

Signs That You’re Ready to Become a Homeowner

3 Smart Money Habits to Help You Save for a Home