FHA Loan
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What is an FHA loan?
The FHA does not lend you money directly. It insures the loan for the lender, which lowers the lender's risk and lets us approve buyers who might not qualify for a conventional loan. You still borrow from us and make your payments to a servicer. The government backing simply sits behind the loan, which is what makes the lower down payment and easier credit rules possible.
Who FHA loans work best for
First-time buyers who have not saved a large down payment
Buyers rebuilding credit or working with a shorter credit history
Households with a higher debt-to-income ratio than conventional loans allow
Anyone who wants a lower barrier to entry and plans to refinance later
What you need to qualify
A credit score of 580 or higher for the 3.5% down payment. A score of 500 to 579 requires 10% down.
A debt-to-income ratio generally up to 43%, with room for more when other factors are strong
The home must be your primary residence and pass an FHA appraisa
The loan amount must fall within your county's FHA limit
Down payment and mortgage insurance
The 3.5% down payment is the headline number, and it can come from your own savings, a gift from family, or an approved down payment assistance program. In return for that low down payment, every FHA loan carries mortgage insurance, and it comes in two pieces.
First is an upfront premium of 1.75% of the loan amount. This is usually rolled into your balance, so you do not pay it in cash at closing. Second is an annual premium, most often 0.55% of the balance, split across your monthly payments.
How long you pay the annual premium depends on your down payment. Put less than 10% down and it stays for the life of the loan. Put 10% or more down and it drops off after 11 years. Many FHA buyers refinance into a conventional loan once they reach 20% equity to remove mortgage insurance entirely.
2026 FHA loan limits
FHA sets a maximum loan amount that changes each year and varies by county. For 2026, single-family limits run from a national floor of $541,287 in most areas to a ceiling of $1,249,125 in high-cost markets. Your county's exact limit depends on local home prices. We confirm the figure that applies to your address before you start shopping
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Related resources
A range of programs for first-time buyers, veterans, and homeowners looking to refinance. Eligibility and terms vary and are subject to qualification.
FHA Loans
Government-backed loans that open the door with down payments as low as 3.5% and flexible credit requirements. A dependable path for first-time buyers or anyone rebuilding their finances.
Low Down Payment
Flexible Credit Requirements
Competitive Interest Rates
VA Loans
Earned through military service, these loans offer zero down payment and no monthly mortgage insurance. Lower payments and realistic credit requirements for veterans, active-duty members, and eligible spouses.
No Down Payment Required
No Monthly Mortgage Insurance
Competitive Interest Rates
Conventional Loans
The market's most widely used mortgage, built for buyers with strong credit and steady income. Rewards a solid profile with better rates, and the mortgage insurance can be canceled once you hit 20% equity.
Competitive Interest Rates
Cancel Mortgage Insurance
Flexible Loan Options
Refinance
Replace your current mortgage to lower your rate, shorten your term, or tap into home equity. Done at the right time, it can cut your monthly payment or reduce the total interest you pay.
Lower Your Monthly Payment
Access Your Home Equity
Pay Off Your Mortgage Faster
Frequently asked questions
We have the answers to the most frequently asked questions.
How do I get started?
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What is the difference between prequalification and preapproval?
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Does starting an application affect my credit?
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What documents will I need?
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Will I work with one person or get passed around?
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Will I work with one person or get passed around?
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[Company Name], NMLS #000000. Equal Housing Lender. Licensed in [States]. This is not a commitment to lend. All loans are subject to underwriting approval. Rates and terms subject to change without notice. Verify our licensing at www.nmlsconsumeraccess.org.