FHA Loan Benefits and Features:
Low down payment: 3.5% of the purchase price. Mortgage insurance is required.
Lower credit scores: Minimum is 580. Scores below 580 may still qualify, but the minimum down payment would be at least 10%. Restrictions apply.
100% gift funds are acceptable for down payment and closing costs.
Fixed-rate and adjustable-rate mortgages (ARM) available.
- Flexible qualification guidelines.
Other requirements and conditions apply.