Unlock Your Dream Home:
Affordable FHA Loans 05/05/2025

Purchase
5.50% (6.3% APR)
FHA 30-Year Fixed Rate
Rate Reduction Streamline
5.50% (6.3% APR)
FHA 30-Year Fixed Rate
*Scenario: loan amount of $482,500 680 FICO 96.5%LTV SFR Primary CA-05/05/2025
- 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.
- 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.
- 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.
- 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.
While there are FHA loan variations, these are the main requirements to keep in mind.
Let's help you find the right FHA loan for your needs!
Salvador Martinez2025-05-02Trustindex verifies that the original source of the review is Google. I had a great experience working with Victor. He was patient and responsive to any questions. Victor worked diligently and frequently checked in with us to ensure the process went smoothly. We were able to close on time and highly recommend Victor. Hayley Searight2025-04-29Trustindex verifies that the original source of the review is Google. Victor was a great help every step of the way. He spoke with my husband and I multiple times as we made our decisions regarding the financing of our loan. Once we were underway, Victor worked efficiently to ensure we were able to have our loan processed timely. He was readily available via text, phone call, or email even at late or early hours. We look forward to working with him in the future. Christopher Houghtaling2025-04-11Trustindex verifies that the original source of the review is Google. Honest, Straightforward and No Nonsense, we had a easy refinance experience on our home here in CA and would recommend Victor to our friends Isaac B2025-03-14Trustindex verifies that the original source of the review is Google. As daunting as refinancing might seem, Victor walks you through and explains every step. I was aware of all my options and any questions I had were quickly answered. Victor ensured the process was smooth and extremely efficient. I would not hesitate to reach out to for any future services. Thank you Victor! Denise Garrett2025-03-03Trustindex verifies that the original source of the review is Google. My experience working with Victor goes beyond the highest level of professionalism! He was absolutely wonderful and so very amazing to work with! He went above and beyond as it relates to ensuring that everything was properly prepared through completion! I couldn't be more satisfied with his service! Outstanding!!!! Mimi Lee2025-01-17Trustindex verifies that the original source of the review is Google. Had to refinance my home and Victor was on top of everything. Tx so much🙏 Joanna Goertz2024-12-11Trustindex verifies that the original source of the review is Google. My husband and I have used Victor and OnPoint for several and look to him when we've refinanced or purchased property. His knowledge, experience, professionalism and timelines are all reasons why we continue to come back! Rebels Sales & Marketing2024-12-09Trustindex verifies that the original source of the review is Google. I had an outstanding experience with on point mortgage pro. They were honest, punctual, and provided a highly professional service. I appreciate their commitment to quality and would definitely recommend them to others!" ron caringal2024-11-29Trustindex verifies that the original source of the review is Google. Victor was easy to deal with. He made the effort to exhaust all possible means for him to meet my target loan amount given the predicament. Gary Chisholm2024-10-18Trustindex verifies that the original source of the review is Google. Victor was great and always avalible