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Explore our recommended lenders offering FHA loans—ideal for first-time buyers or those with lower credit scores looking for low down payment options.
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What is an FHA loan?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It’s designed to help borrowers with lower credit or limited savings buy a home.
Who qualifies for an FHA loan?
FHA loans are available to buyers with credit scores as low as 580 (sometimes 500 with higher down payment), steady income, and a manageable debt-to-income ratio.
How much do I need for a down payment?
FHA loans require a minimum down payment of 3.5% if your credit score is 580 or higher. Buyers with lower scores may need to put down at least 10%.
Do FHA loans have limits?
Yes, FHA loan limits vary by county and are updated annually. They’re generally lower than conventional loan limits, so check your area’s cap before applying.