FHA Loans
FHA loans are insured by the Federal Housing Administration and designed to make homeownership accessible to buyers with smaller down payments or less-established credit.
Low down payment
With a credit score of 580 or higher, you may qualify with just 3.5% down. Buyers with scores between 500–579 may still qualify with 10% down, depending on the lender.
Mortgage insurance (MIP)
FHA loans require an upfront mortgage insurance premium (often financed into the loan) plus an annual premium paid monthly. On most FHA loans with less than 10% down, this annual MIP lasts the life of the loan unless you refinance; with 10% or more down, it can drop off after 11 years.
Is FHA right for you?
FHA can be a great fit if your credit is still improving or your savings are limited. If you have strong credit and 5%+ to put down, a conventional loan may end up cheaper over time because PMI is removable. Run both scenarios.
Related Guides
Get a Free Booklet
Pick a topic — each opens a quick page where your PDF downloads free.
- VA Loan Booklet Zero-down benefits, the funding fee, and eligibility — explained.
- FHA Loan Booklet 3.5% down, credit flexibility, and how mortgage insurance works.
- Conventional Loan Booklet Low-down options, PMI, and how to get the best pricing.
- Refinancing Booklet Rate-and-term vs. cash-out, and finding your break-even point.
- First-Time Buyer Booklet A step-by-step roadmap from budgeting to closing day.
- Jumbo Loan Booklet High-balance loans: requirements, rates, and when they make sense.
- DSCR Investor Loan Booklet Qualify on rental income, not personal W-2s — built for investors.
- Reverse Mortgage Booklet How HECMs work, eligibility, and what homeowners 62+ should know.
- HELOC & Home Equity Booklet Compare HELOCs and home equity loans: structure, rates, and use cases.
100% free · instant PDF download · no obligation.