Affordable Homeownership with FHA Loans

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Today’s FHA Loans Mortgage Rates

Rates as of Mar 21, 2025 See assumptions

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What is an FHA Loan?

An FHA (Federal Housing Administration) Loan is a government-backed mortgage designed to help individuals with lower credit scores and limited savings become homeowners. These loans are insured by the FHA, reducing the risk for lenders and making it easier for borrowers to qualify.

FHA Loans are particularly popular among first-time homebuyers due to their lower down payment requirements and more lenient credit criteria. They can be used to purchase a new home, refinance an existing mortgage, or even renovate a property.
With an FHA Loan, you can enjoy competitive interest rates and the ability to finance closing costs, reducing the upfront expenses associated with buying a home.

Loan Benefits

Lower Down Payments

Secure a home with as little as 3.5% down, making it easier to get into your dream home.

Credit Requirements

Qualify with a lower credit score compared to conventional loans, expanding your homeownership opportunities.

Finance Closing Costs

Roll closing costs into your loan, reducing the upfront expenses of buying a home.

Eligibility Requirements

Minimum credit score of 580 for 3.5% down payment (500-579 for 10% down)
Proof of steady employment and income
Debt-to-income ratio within acceptable limits (typically around 43%)
The property must meet FHA appraisal standards
Must be your primary residence
Verification of U.S. citizenship or legal residency

Start your FHA Loans Application

Frequently asked questions

What is the minimum down payment for an FHA Loan?

The minimum down payment is 3.5% for borrowers with a credit score of 580 or higher.

Can I use an FHA Loan to refinance my current mortgage?

Yes, FHA Loans can be used for refinancing, including the FHA Streamline Refinance program for existing FHA borrowers.

Are there limits on how much I can borrow with an FHA Loan?

Yes, FHA loan limits vary by county and are based on the median home prices in the area.

What types of properties are eligible for FHA Loans?

Single-family homes, multi-family homes (up to 4 units), approved condominiums, and certain manufactured homes.

Do FHA Loans require mortgage insurance?

Yes, FHA Loans require both an upfront mortgage insurance premium (UFMIP) and an annual mortgage insurance premium (MIP).

See what our clients say about us

We are humbled by the kind words of our clients. And we are happy that we were the ones to help turn their mortgage goals into reality.

Zero conditions on approval

Working with Marshall and Betty was incredibly easy. They prequalified my loan so well that I had zero conditions on my approval, just needed insurance.

Austin H.

Quick preapproval with best options

Very professional and easy to work with. Marshall got me preapproved quickly for my purchase and was helpful in finding the best options and rates.

C. C D.

Completely straightforward process

Marshall was amazing to work with - responsive, on top of all the details and super efficient. He made the whole process completely straightforward.

Nina D.

Easy first-time home purchase

Heather made my first time home purchase an exciting and easy process. I am looking forward to using her in the future and so should you!

Brianna R.

Responsive first-time homebuying

Heather was incredibly responsive, organized, and kind. We were very lucky to have her during our first time experience of buying a home.

Jacqueline R.

Complex process made effortless

Delania, Reza & Betty were incredibly knowledgeable and helpful. They were patient, responsive, and always available to answer questions. Their expertise made a complex process feel effortless.

MILES of ALL, LLC

Exceptional first-time homebuyer experience

Suzie made the potentially daunting process incredibly smooth. Her expertise and compassionate approach were invaluable. We wholeheartedly recommend Truss for anyone hesitant about mortgage brokers.

Robert F.