Government-Backed Loan
FHA Purchase
Buy your first home, or your next one, with as little as 3.5% down with a 580 or higher credit score, and more room on credit than a conventional loan allows.
- Down paymentAs little as 3.5% with a 580+ score
- CreditMore flexible than conventional
- PropertyPrimary residence, 1 to 4 units
- Down payment giftsAllowed from family
How It Works
Easier to qualify, insured by the FHA.
The Federal Housing Administration insures the loan, so lenders can approve borrowers a conventional loan might turn away. You pay for that protection through mortgage insurance.
- 01
We review your credit and budget
Your score sets the minimum down payment. We look at income, debts and savings to find a payment you are comfortable with.
- 02
The home gets an FHA appraisal
Beyond value, the appraiser checks that the home meets HUD's safety and condition standards.
- 03
We price FHA and conventional side by side
Pricing and lender overlays vary. We shop both across our lenders and show you which costs less over time.
Program Highlights
Why buyers choose FHA.
- Lower minimum credit scores than most conventional programs
- Down payment can come entirely from a gift or approved assistance program
- The seller can contribute toward your closing costs
- Higher debt-to-income ratios allowed with compensating factors
- Can be assumed by a qualified buyer when you sell
- Refinance later with an FHA Streamline if you qualify, often with no appraisal
Common Questions
What buyers ask about FHA.
FHA allows scores as low as 580 with 3.5% down, or 500 to 579 with 10% down, though many lenders set higher minimums. For conventional loans, many lenders still look for 620 or higher. Higher scores usually earn better pricing.
FHA is more forgiving on credit, but under current FHA rules, with less than 10% down its mortgage insurance lasts for the life of the loan. Conventional mortgage insurance can be removed at 20% equity and ends automatically at 22%. With stronger credit, conventional often costs less over time. With lower scores, FHA often wins. We price both.
Yes. FHA is not limited to first-time buyers. The requirement is that the home is your primary residence, and you generally can only have one FHA loan at a time.
Yes. All of the down payment can be a gift from a family member, employer or approved assistance program. The donor signs a gift letter and we document the transfer.
FHA sets a maximum loan amount by county and updates it every year. We will confirm the current limit for the county you are buying in. If the price is above it, conventional or jumbo is usually the better path.
Yes, if the condo project is FHA approved, or qualifies through a single-unit approval. We check the project's status before you write an offer.
Yes. Florida Housing and Palm Beach County both run down payment and closing cost assistance for qualifying buyers, usually with income and purchase price limits. Funding opens in rounds and can run out, so we check what is available when you apply.
General information only, not a commitment to lend. Loan programs, guidelines, interest rates and terms are subject to change without advance notice.
Related Programs
Conventional Purchase
As little as 3% down for qualifying first-time or income-eligible buyers
FHA 203(k) Renovation
Home purchase or refinance plus renovation costs in one FHA loan
FHA Streamline Refinance
A simplified refinance for existing FHA borrowers
VA Purchase
No down payment for eligible veterans and service members
See your FHA numbers across 50+ lenders.
Tell us your price range and how much you have saved. We will show you what FHA and conventional would cost, side by side.