FHA Loan Requirements for 2024
580 Credit Score -and- 3.5% Down Payment
The FHA loan program lets you purchase a home with a low down payment and flexible guidelines. FHA refinance mortgages are a great option for those who want to lower their monthly mortgage payment or consolidate their bills.
See how we make the American dream a reality. Whether you're a first-time homebuyer moving to a new home, or want to refinance your existing conventional loan to an FHA mortgage, there's an FHA program suited to your needs. With no income limits or credit scoring, many people who can afford the monthly mortgage payments and have reasonable credit will qualify for an FHA mortgage.
FHA Loan Articles
December 23, 2022When it comes to buying a house, saving up for a down payment can be one of the most overwhelming aspects. While down payments are one of the biggest obstacles for many in the mortgage process, it helps to understand the ins and outs of why they play such a big role.
November 30, 2022Buying and financing a home is complicated and can become overwhelming. It's important for you to stay informed, and know what your options are. So, start with the basics and read about the four different mortgage types available before approaching a lender.
November 8, 2022The fact is that repairs and renovations to your home cost a lot of money. Luckily, the FHA has an option for those with fixer-uppers on their hands. The FHA 203(k) Rehabilitation Mortgages allows borrowers to finance the funds for renovations to a home.
October 17, 2022If you’ve begun your search for a new home and are looking into mortgage options, you’ve likely heard of mobile, manufactured, and modular homes. While people working in real estate throw these terms around easily, it might be something that leaves everyday homebuyers confused.
September 17, 2022The FHA sets these limits annually according to the location and type of home, and it represents the maximum loan amount the agency will insure. Approved FHA-lenders can set their own requirements in addition to the FHA’s criteria for borrowers, such as higher credit scores.
