Compared to other home loans, FHA is typically the most flexible mortgage product with lower minimums for down payment and credit score, while allowing a higher debt-to-income (DTI) ratio. A FHA loan is typically the best home loan option for first time buyers who are not military veterans or the house is not in an eligible rural area designated by USDA.

FHA LOAN OPTIONS

  • 96.5% maximum financing
  • Upfront mortgage insurance required as well as a monthly amount for term of loan
  • Expanded qualifying ratios and flexible credit guidelines
  • FHA maximum loan amount varies by geographical area determined by FHA
  • No income limits or location restrictions
  • Can be used for purchases and refinance
  • Minimum credit score of 580

Ready to get Pre-Qualified OR learn how to become eligible for a home loan?

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 Home Loan Options and Mortgage Resources

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