Loan program
FHA Loans
Backed by the Federal Housing Administration, FHA loans exist to lower the barrier to homeownership — smaller down payments, more forgiving credit requirements, and a path in for buyers conventional financing might turn away.
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Why buyers choose FHA
FHA loans are insured by the government, which means lenders can extend more flexible terms than they could otherwise — lower down payments, more lenient credit history requirements, and higher allowable debt-to-income ratios in many cases. It's the program I recommend most often to first-time buyers.
Who this fits well
- First-time buyers who haven't saved a large down payment
- Buyers rebuilding credit after a past setback
- Anyone whose debt-to-income ratio is a bit higher than conventional guidelines prefer
Mortgage insurance premium (MIP)
FHA loans require both an upfront mortgage insurance premium (often rolled into the loan) and an annual premium paid monthly. Unlike conventional PMI, FHA's MIP often stays for the life of the loan unless you refinance out of it later — something worth planning around once you've built equity.
Property requirements
The home has to meet FHA's minimum property standards — safe, sound, and livable. This can matter for older homes or properties needing significant repair, so it's worth discussing a specific property with me before you write an offer.
Wondering if FHA is your best option?
I'll compare it against conventional and show you the real difference in your payment.