Moving into a New Home? All you need is 3.5% down, Let FHA Loans Help You!

FHA loans have been helping people become homeowners since 1934. How does FHA do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.

• Smaller Down Payment. With an FHA-insured loan, the down payment on your new home can be as low as 3.5%. The money can come from a family member in the form of a gift.
• Low Cost. FHA-insured loans offer competitive interest rates. That’s because they’re insured by the federal government.
• Credit Problems OK. You don’t need to have perfect credit to qualify for an FHA-insured mortgage.
• Added Protections. If you’re hit by hard times, the FHA has options that could help you avoid foreclosure and keep you in your home.

What does FHA have for you?

Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

Want a fixer-upper?
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Financial help for seniors
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.

Want to make your home more energy efficient?
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about manufactured housing and mobile homes?
Yes, FHA has financing for mobile homes and factory-built housing. We have two loan products – one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.

Ask an FHA lender to tell you more about FHA loan products.
Find an FHA lender

Need advice? Contact a HUD-approved housing counselor or call
(800) 569-4287.

Need help with your downpayment? State and local governments offer programs that can help. Find a program near you.

To find out if an FHA-insured home loan is right for you, talk to one of our mortgage specialists.

Certain loan limits may apply. Loan approval subject to credit, income and property evaluation.