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Government-backed loans insured by the Federal Housing Administration. Designed for first-time homebuyers and those with lower credit scores or smaller down payments.
An FHA loan is right for you if you are a first-time homebuyer, have a credit score as low as 580, or need a low down payment option of just 3.5%. It is especially helpful if your credit history is limited or you have had past credit challenges.
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Min Credit Score
580+
Min Down Payment
3.5%
Max LTV
96.5%
Max DTI
50%
Loan Limits
$498,257 (floor) to $1,209,750 (ceiling) depending on county
PMI / MIP
Upfront MIP of 1.75% + annual MIP of 0.55% for 30-year loans with less than 10% down (for the life of the loan)
Occupancy
Primary residence only
We assess your credit score, income, and debts to determine FHA eligibility and estimate your maximum loan amount with the low 3.5% down payment.
Submit your application along with income documents, bank statements, and identification. We order the FHA appraisal, which includes property condition requirements.
The FHA underwriter reviews your file against FHA guidelines, verifies the appraisal meets minimum property standards, and issues approval.
Sign your closing documents, pay your down payment and closing costs (including the upfront MIP), and take ownership of your new home.
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Rates, terms, and availability of programs are subject to change without notice.
Explore other loan products that might be a good fit for your needs.
A traditional mortgage not insured by the federal government. Ideal for borrowers with strong credit and stable income who want competitive rates and flexible terms.
California Housing Finance Agency programs that provide down payment and closing cost assistance to first-time homebuyers. Includes the MyHome Assistance Program and Zero Interest Program (ZIP).
FHA-backed loan that finances both the purchase of a home and the cost of renovations in a single mortgage. Ideal for buying fixer-uppers or upgrading your current home.
Lock in a consistent interest rate and monthly payment for the entire life of your loan. Available in 15 or 30-year terms, providing long-term payment stability.
Apply online in minutes or call us to speak with a loan advisor about your FHA options.
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Rates, terms, and availability of programs are subject to change without notice.
These FAQs are generated with AI assistance and reviewed periodically. For personalized advice about your specific situation, please call us or apply online.