An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA).


→ Offers a less stringent qualification and credit requirements.

→ Down payment or home equity less than 20%.

→ Sellers are also allowed to contribute a portion of the sale proceeds to closing costs.

→ People with a bankruptcy more than two years old may often qualify for a loan. These loans also allow higher debt-to-income ratios.


→ Two Years of steady employment, preferably with same employer.
→ Last two years Income should be the same or increasing.
→ Bankruptcies must be at least two years old.
→ Foreclosures must be at least three years old.

How it works:

→ Credit scores as low as 580 may qualify.
→ Refinance up to 96.5% of your primary home’s value.
→ Buy a home with as little as 3.5% down (primary home).
→ Your actual payment will vary based on your situation and the current interest rates when you apply.
→ Pay off your mortgage at any time without pre-payment penalties.
→ 30 and 15 year terms are all available with fixed rates.


The payment on a $200,000 FHA Loan at 3.25% and 96.5% loan-to-value (LTV) is $885.64 with no points due at closing. The Annual Percentage Rate (APR) is 4.719%.

* Payment does not include taxes and insurance premiums.
* Rates are subject to change without prior notice.
* Loan information is informational purposes only and is not an offer to make a loan.