FHA Home Loan Programs

FHA Loan Benefits

  • FHA program requires only 3.5% down payment and 580 credit score
  • Down Payment Assistance Programs available
  • Competitively low interest rates
  • FHA has more flexible qualification guidelines
  • Down payment can be 100% gift funds
  • Seller can pay closing costs
  • There are no maximum income restrictions
  • Parents or family members can co-sign on loan
Let's take a look at a few other FHA Loans

FHA 203k Rehab Loan

This program allows you to purchase a fixer upper home or foreclosure and roll in repairs or improvements into the mortgage. The loan is based on the appraised value after the improvements have been completed and you only need a 3.5% down payment. Find out more about FHA Streamline Renovation Program to fix up a home which needs some work.

HUD Home Program

You can purchase a HUD owned property or FHA Foreclosure with $100 down payment and the seller can pay for some or all of the closing costs. The minimum credit score to qualify for this program is 620. Find HUD Homes now!

Good Neighbor Next Door

Law enforcement officers, teachers, firefighters and emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Program. HUD offers a discount of 50% from the list price of the home. You must live in the property for 36 months as your sole residence.The $100 down payment option is available.

Gift of Equity Program

You can purchase a home from your parents or relative and use the equity in the home for down payment and closing costs. For example, your parent's home is worth $150,000 but they are willing to sell it to you for $140,000. You can use the $10,000 difference or equity to cover down payment and closing costs.

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