FHA Mortgage

What’s an FHA mortgage?

FHA loans are insured by the Federal Housing Administration (FHA) and may have an easier qualification process due to less stringent down-payment and credit requirements than conventional mortgages. Note: If you’re a current military member or veteran, you may be eligible for a VA home loan with little or no down-payment.

An FHA mortgage may be a good fit if you have less-than-stellar credit or limited cash for a down payment, but other options exist.

Lower Down Payments

An FHA mortgage may require a down payment as low as 3.5 percent.

Lower Credit Thresholds

One of the benefits of the FHA loan program is that home buyers may qualify even without a long credit history or outstanding credit.

Popular for Refinancing

Many borrowers with newly adjusting ARMs look to refinance into fixed-rate FHA loans. Learn more about your refinance options.

Requirements and Qualifications
Loan Amount	FHA home loans have maximum mortgage limits that vary by state and county.
Down Payment	FHA loan guidelines require a minimum down payment of 3.5 percent.
Property condition	FHA loans require that the home being purchased must meet certain conditions and be appraised by an FHA-approved appraiser. New FHA loans are available only for homes that will be used as the buyer’s primary residence.