FHA Loans


Like conventional loans, FHA Loans offer some of the lowest rates in history. The most popular FHA Loans are fixed-rate mortgages which means that the interest rates won't change for the life of your loan.

Advantages of an FHA Loan over a Conventional Loan

The major advnantage that FHA Loans have over Conventional Loans is that the credit qualifying criteria is not as strict. Credit scores as low as 620 now qualify for an FHA loan. Additionally, your allowable debt-to-income ratio is higher on an FHA. Meaning, if the amount of debt you carry is relatively high compared to your income you may still qualify for an FHA loan.

With FHA Loans, a low down payment is required – FHA loans generally require as little as 3.5% down on the purchase of a home. Government requirements also feature some of the lowest amounts needed to close a loan, potentially leaving more money in your pocket at closing. Easy Refinancing – Refinance up to 97.75% of your home's value. FHA also offers an FHA Streamline which allows you refinance with no appraisal and minimal credit requirements.

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