The FHA Home Loan

The FHA Home loan is a government insured loan with flexible choices.An FHA loan might be right for you if you are looking
to purchase a home with a small down payment and want to include most of your closing costs and fees in the loan.

Some Benefits of FHA Loans:

  • Low down payments (as low as 3.5%)*
  • Low closing costs
  • Attractive interest rates
  • Flexible qualification requirements
  • Ideal if you don’t have a large down payment, no matter how many homes you have purchased in the past

Interested in a Fixer-Upper?

FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to remodel or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Looking to Make your Home more Energy-Efficient?

You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about Manufactured Housing?

Yes, FHA has financing for factory-built homes that are permanently affixed to the property you are purchasing.

Requirements for an FHA Loan:

  • You must have a steady employment history or have worked for the same employer for the past two years.
  • You must have a valid Social Security number, lawful U.S. residency, and be of legal age to sign a mortgage in your state.
  • You must make a minimum down payment of 3.5%. Other sources of cash include a gift from a family member or a grant from a state or local government down-payment assistance program.
  • New FHA loans are only available for primary residence occupancy.
  • Typically, you must be two years out of bankruptcy and have re-established good credit. Exceptions can be made if you are out of bankruptcy for more than one year or if there were extenuating circumstances beyond your control.
  • Typically, you must be three years out of foreclosure and have re-established good credit. Exceptions can be made if there were extenuating circumstances and you’ve improved your credit.


*Down payment and other figures shown are for informational purposes and are not intended as an advertisement or commitment to lend. Not all borrowers will qualify; contact us for a specific quote and more information on fees and terms. NMLS # 110139 | A division of AmeriFirst Financial Corporation