FHA Loans
FHA loans provide flexible financing options for homebuyers with lower down payments and credit flexibility.
Overview
FHA loans are mortgages insured by the Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development. These loans are designed to help homebuyers — particularly first-time buyers — who may have limited down payment savings or less-than-perfect credit qualify for home financing.
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Frequently Asked Questions
What credit score do I need for an FHA loan?
FHA loans allow credit scores starting at 580 for the 3.5% down payment option. Borrowers with scores between 500 and 579 may qualify with a 10% down payment, though individual lender overlays may impose higher thresholds.
How much is the FHA mortgage insurance premium?
FHA loans require both an upfront mortgage insurance premium (UFMIP), typically 1.75% of the loan amount, and an annual mortgage insurance premium (MIP) paid monthly, typically ranging from 0.15% to 0.75% depending on loan terms.
What are FHA loan limits?
FHA loan limits vary by county and are set annually based on local housing costs. In 2026, the baseline limit for a single-family home is $472,030, with higher limits in high-cost areas reaching over $1 million.
Can I use FHA loans for investment properties?
No, FHA loans are intended for primary residences only. You must occupy the property as your primary residence within 60 days of closing and live in it for at least one year.
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