This loan is insured by the Federal Housing Administration (FHA). An FHA loan allows for a lower down payment than other mortgage programs.
- A minimum 3.5% down payment
- A minimum FICO® Score of 580
- Fixed and adjustable rate mortgages
- Loans for 1-4 unit properties and Condos may be available
- Down payment funds can be a gift from a relative or employer*
- Home sellers can contribute up to 6% of the closing costs
*Subject to underwriting review and approval
- The home is your primary residence, which means that it cannot be an investment property or second home
- You must occupy the property within 60 days of closing
- Your loan cannot exceed the loan amount limit in your area. The FHA’s limit for lower-cost areas is set at $356,362 in 2021. In high-cost areas, the limit for 2021 is $822,375. Look up the loan limits in your area
Other terms and conditions will apply. Contact a Mortgage Loan Originator for more information.
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