Affordable Homeownership with FHA Loans

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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

Today’s mortgage rates

Rates as of Nov 14, 2024 See assumptions

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.

First-Time Homebuyers' Delight

Suzie and the Truss Financial Group exceeded our expectations in securing our mortgage as first-time homebuyers. Suzie's expertise and guidance made the potentially daunting process incredibly smooth and manageable.

Robert F.

San Tan Valley, AZ, Software Engineer

Great for Bank Statement Loans

I did a bank statement income loan and it chose to not include some deposits. This is just a heads up, not a complaint. Truss is definitely a good company, and I would ABSOLUTELY work with them again. Marcus was honest and helpful throughout the process.

Berj F.

Concord, CA, Business Owner

Personalized Service

"I am more than pleased to work with Delania Tak and would confidently recommend her to anyone seeking reliable assistance in securing a loan. Her commitment to excellence and personalized care make her an exceptional choice."

Howard L.

CA, Real Estate Investor

Cash-Out Refinance Made Easy

Thank you so much to Guillermo Correa and Truss Financial. They made doing my cash-out refinance a piece of cake! The interest rate was much lower than other lenders I checked with. The fees were reasonable, and the timeline was very smooth.

RealEstateLady 1.

Sandy, OR, Real Estate Broker

Exceptional for Self-Employed

After months of struggling with other lenders, Paul at Truss Financial made it easy to complete a cash-out refinance of a new primary residence. As a small business owner and real estate investor, my income situation is complicated but Paul was able to guide me through the process with relative ease.

Baird K.

New York, NY, Small Business Owner and Real Estate Investor

Innovative Solutions for Self-Employed

Garrett Jimenez was super creative and helpful every step of the way. Being self-employed makes getting a loan difficult. But he found ways to overcome each and every hurdle and really hit a home run for us.

Jason M.

Rancho Cucamonga, CA, Self-Employed Individual