FHA Loans

Loans that are incurred by Federal Housing Administration (FHA) and issued by an FHA approved lender are government-backed.

Loans that are incurred by the Federal Housing Administration (FHA) and issued by an FHA approved lender provide a flexible option for homebuyers. FHA loans typically come with a low down payment requirement and competitive interest rates. An upfront mortgage insurance premium is required—which is usually added to the loan amount and a monthly mortgage insurance fee is included in your payment. Whether you’re looking to purchase a new home or refinance an existing one, you can even use tools like an fha loan mortgage calculator or fha calculator mortgage to estimate your payments.

Buy with as little as 3.5% down and qualify with a credit score as low as 580. In some cases, even borrowers with scores between 550 to 579 may be eligible with pricing adjustments and a 10% down payment. With the option to use family gift money for your fha loan down payment, affordability is within reach. Moreover, sellers may cover all your closing costs helpful when using an fha closing cost calculator to budget your expenses.

This product is especially great for first-time buyers or those with limited income or credit challenges. With features that include:

• Down Payment: A minimum of 3.5% is typically required, with flexibility if using family assistance.
• Credit Scores: Ideal for borrowers with scores greater than 580 (and some flexibility for scores between 550 to 579 with tighter underwriting criteria).
• Loan Limits: Please check FHA county limits for your area.
• Occupancy: Most commonly used for owner-occupied residences.

For those exploring different financing options, you might also consider learning about fha reverse mortgage products. To get started, use our tools to calculate fha mortgage payment options or even apply for fha loan directly through our network of fha approved lenders.

📞 Contact InkMortgage today to get pre-approved and apply for an FHA loan with confidence!