FHA Home Loans

Generations of homebuyers have enjoyed this popular program.

Highlights include low down payments and relaxed credit guidelines.

How many Federal Housing Administration loans have been handed out since the 1930s? About 40 million. Why are these mortgages so popular? They require very low down payments and are available to borrowers who might not qualify for traditional loans. Our mortgage professionals are happy to guide you through the application process - so there's no need to deal with a government agency.

• Government-backed loan insured by the Federal Housing Administration (FHA)
• Down payments as low as 3.5%
• Fixed rate
• Seller can assist with up to 6% of purchase price toward closing costs
• All funds for closing costs can be from a gift
• Generally, credit score of 580 is required, though there can be exceptions made. Non-traditional credit considerations include on-time rent, utility and insurance payments.
• Available for primary residences in all states except NY, ND, ID and MO
• Can be used to purchase a home or re-finance existing mortgage

FHA Requirements

• Proof of identification 
• Reliable income stream
• Property must be appraised by an FHA-approved appraiser
• Mortgage insurance required
• Borrower must not be behind on income taxes or federal student loan payments
• Must be for primary residence

Documents that may be required

• Social Security card
• W2 Statements
• Pay stubs
• Employment verification
• Two months of bank statements