FHA loans are insured by the Federal Housing Administration, which lets lenders offer easier qualifying and low down payments.
Put down as little as 3.5% with a credit score of 580 or higher.
Past credit challenges don't automatically rule you out, and scores below 580 may qualify with 10% down.
Your down payment can come from a family member or an approved assistance program.
FHA guidelines can allow a higher debt-to-income ratio than many conventional loans.
A future buyer may be able to take over your FHA loan and its rate, which can help when you sell.
FHA Streamline lets you refinance later with less paperwork, often without a new appraisal.
FHA loans are designed to be accessible. Most borrowers need:
A Credit Score of 580 or Higher – For 3.5% down; scores of 500 to 579 may qualify with 10% down.
Steady Income and Employment – Typically two years of consistent work history.
A Manageable Debt-to-Income Ratio – Often up to about 43%, or higher with strong compensating factors.
A Primary Residence – The home must be where you live.
A Loan Within FHA Limits – Limits are set by county and updated each year.
Answer a few quick questions about your plans, and a Woodcrest loan officer will reach out with options tailored to this loan program.
Get quick answers to the most common questions homebuyers ask. Our FAQ section is designed to help you understand the mortgage process, explore your options, and feel confident every step of the way.
3.5% with a credit score of 580 or higher, or 10% with a score between 500 and 579.
Yes. FHA loans include an upfront premium, which can be financed into the loan, plus a monthly premium.
Yes. FHA loans are available to repeat buyers as long as the home will be your primary residence.
Yes. You can buy a two- to four-unit property with FHA financing if you live in one of the units.
