FHA LOANS
Unlock Your Dream Home
01/29/2026
> Lower Credit Score
> Lower Down Payment
> First Time Home Buyer
Purchase
4.875% (5.9% APR)
FHA 30-Year Fixed Rate
Rate Reduction Streamline
5.125% (5.9% APR)
FHA 30-Year Fixed Rate
*Scenario: loan amount of $482,500 680 FICO 96.5%LTV SFR Primary CA
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Lower Down Payment
Easier Qualification
Achieve Homeownership
Types of FHA Loans
Lower Down Payment
- FHA Allows Low Down Payments: With a low down payment option, more people can buy a new house. This is great for first-time homebuyers, and those who have little money to put down.
Easier Qualification
- FHA loans enable more people to achieve homeownership. They allow borrowers who have less than perfect credit, no credit history, or who may have experienced some financial missteps, like a foreclosure or bankruptcy, to qualify.
Achieve Homeownership
- FHA Loans May be Combined with Down Payment Assistance Programs: This can take the form of funded grants, a low-interest loan, or a forgivable loan.
- FHA Allows 100% Gift Funds: In addition to a low down payment, those funds can come from a gift.
Types of FHA Loans
- 30-Year Fixed-Rate
- 15-Year Fixed-Rate
- 5/1 Adjustable-Rate
- Streamline Refinance
- Cash-Out Refinance
- 203(k)
What is an FHA Loan?
Think you can’t afford a home because of a smaller down payment or less-than-perfect credit? FHA loans can help!
Unlike traditional loans, FHA loans are insured by the U.S. government. This makes it easier for lenders to approve you, even with a down payment as low as 3.5%.
FHA doesn’t directly issue loans. Instead, they partner with approved lenders like banks. You apply through a lender, and FHA insures the loan, protecting the lender if you can’t repay. You’ll pay a premium for this insurance, but it opens the door to homeownership.
Originally designed to help people with lower credit scores, FHA loans are now popular with a wider range of borrowers, especially:
- First-time homebuyers
- Those with moderate credit scores
- People who haven’t saved a large down payment
FHA Loan Requirements: Know Before You Go
While FHA is known for being more flexible, a credit score of 580 or higher is ideal. They may accept a lower score (around 500) with a larger down payment (10% instead of 3.5%).
The minimum down payment is 3.5%, but a larger down payment can improve your chances of approval with a lower credit score.
You’ll need to show proof of steady income and employment history, typically through tax returns or paystubs for at least two years.
All FHA loans require mortgage insurance premiums (MIP). There’s a one-time upfront cost (around 1.75%) and a monthly premium that depends on your loan amount.
The loan must be for your primary residence, the home you’ll live in most of the time.
FHA allows a higher DTI than conventional loans, up to 57% in some cases. This means more of your income can go towards existing debts and still qualify for an FHA loan.
Let's help you find the right FHA loan for your needs!
OnPoint Mortgage Pro licensed in:
CA, CO, ID, FL, MD, NH, SC, TX, VA.
NMLS#2134550
We are a licensed professional business in mortgage lending and are committed to providing expert guidance and tailored solutions to help clients achieve their homeownership goals with confidence.
