FHA Loan Program
The FHA loan's combination of low rates, low down payment, and flexible lending guidelines help more homebuyers to qualify for home loans.
- Available for primary residence occupancy only.
- Down payment of 3.5% can be gifted by family.
- Maximum loan limits apply and vary by state and county.
- Monthly mortgage insurance (MIP) and upfront premium of 1.75% of the home loan are required.
- Borrowers must have a property appraisal from an FHA-approved appraiser.
- Closing costs up to 6% can be paid by the seller, builder or lender.
- Higher debt-to-income ratios permitted, maximum of 45%.
minimum down payment
maximum seller concessions