Great for first-time buyers and those looking to refinance.
What is an FHA Loan?
Being a first-time buyer can be tough, but a Federal Housing Administration (FHA) backed mortgage can make buying a home easier. With less rigid borrower requirements, FHA loans can make moving into your first home or refinancing possible.
What are the benefits of an FHA loan?
Compared with conventional home loans, FHA loan providers are willing to look at your entire financial picture, making it easier to qualify if you can’t meet conventional loan criteria.
Low minimum down payment (currently 3.5%)
Reasonable credit expectations
Flexible income requirements
Credit scores as low as 580 may qualify to refinance up to 97.75% of a primary home’s value
Refinance using your initial purchase price without an appraisal
Our easy to use mortgage calculator can show you how much you can afford, calculate payments and help you to consolidate your debt.