FHA loan guide
Understand FHA loan requirements before comparing offers
FHA loans are mortgages made by approved lenders and insured by the Federal Housing Administration. They may provide a path to homeownership for borrowers who need flexible qualification standards, but mortgage insurance and property rules affect the full cost.
Compare my loan optionsCore FHA eligibility factors
- The home generally must be your primary residence
- Income, employment, assets, debts, and credit are documented
- The property must meet FHA appraisal and safety standards
- Loan amount must stay within the applicable area limit
- An upfront and annual mortgage insurance premium may apply
- The lender makes the final approval decision under program rules
Credit score and down payment
FHA rules set program parameters, but individual lenders may apply additional requirements. Your credit profile can affect the down payment required, approval, and price. Ask each lender which standards apply to your exact situation.
Mortgage insurance matters
FHA financing generally includes an upfront mortgage insurance premium and an annual premium collected with the monthly payment. How long the annual premium remains depends on the loan terms. Include both when comparing FHA and conventional options.
What to compare
- Rate and APR for the same lock period
- Upfront and monthly mortgage insurance
- Down payment and cash-to-close
- Lender fees and discount points
- Estimated taxes and insurance
- Whether the property is likely to meet FHA standards
See which loan options fit your goals
Answer a few questions about your property and financing goals. There is no cost or obligation to compare.
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