FHA Loans 101

FHA Loans 101

Down payments got you down? An FHA loan is what allows buyers who can’t come up with a hefty down payment and/or have “lower” credit scores to qualify for a mortgage loan.

Will an FHA Loan Work For Me?

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FHA Requirements

The basic criteria for an FHA loan is 3.5% minimum down payment and a credit score of 580 points or higher.

There are specific types of FHA loans that your lender can go over with you if you decide an FHA loan is right for you. While deciding what type of FHA loan works for you, it’s also important to note certain limits on FHA loan, namely how high of price they are willing to cover. 

Common types of FHA Loans:
Fixed Rate Loans
Adjustable Rate Mortgages
FHA 203 Loans 
FHA Jumbo Loan

Does FHA sound like it might apply to you?
Talk to a lender today!

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