FHA Mortgage Loans
Insured by the Federal Housing Administration, FHA loans make homeownership achievable for buyers with modest down payments, higher debt ratios, or previous credit hiccups.
First-Time Buyers & Credit Building Buyers
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Program at a Glance
- Down Payment
- 3.5% down
- Credit Score
- 580+ (3.5% down); lender overlays often higher
- Occupancy
- Primary residence only
- Term
- 15 & 30 yr fixed
- Property Type
- 1–4 unit (owner-occupied)
Key Program Highlights & Advantages
Down payment as low as 3.5%
FHA program minimums allow scores down to 500 with 10% down (580+ for 3.5% down); individual lender overlays often require higher
Potentially higher debt-to-income (DTI) ratios with automated underwriting approval (varies by lender and borrower profile)
100% gift funds allowed for down payment & closing costs
Assumable mortgage feature
General Qualification Standards
Compare Similar Programs
| Program | Down Payment | Credit Score | Occupancy | Term |
|---|---|---|---|---|
| FHA Mortgage Loans | 3.5% down | 580+ (3.5% down); lender overlays often higher | Primary residence only | 15 & 30 yr fixed |
| Conventional Mortgage Loans | As low as 3% | 620+ (typical) | Primary, 2nd home, investment | 10–30 yr fixed |
| DPA (Down Payment Assistance) | Program grants/forgivable 2nds (varies) | ≈ 620+ (varies by program) | Primary residence | Pairs with FHA/Conventional 1st |
Figures shown are typical ranges and vary by lender, program, and borrower profile.
Rates, terms, and program availability are subject to change without notice and depend on borrower qualification and underwriting approval. This is not a commitment to lend. Contact Oakley Pike for current program guidelines.
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