FHA Loan

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FHA Loan


At a Glance

The FHA home loan program makes getting a mortgage easy. This type of mortgage has a less stringent qualification and credit approval process. Additionally, the down payment is lower than that of a Conventional mortgage.

Here are just a few additional guidelines:

Minimum credit score of 580 (530 with 10% down payment)   |   Minimum down payment of 3.5%   |   FHA Funding Fee of 1.75%   |   Loan Limit is $294,515
MIP- Moderate monthly mortgage insurance   |   o Around $71 per month for $100,000   |   o Will remain for the life of the loan