FHA Loan

An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay.

FHA loans are not for everybody. Nevertheless, they are a great help to some borrowers.


FHA loans allow people to buy a home with a low down payments. Other loans might not allow such a low down payment.

FHA loans offer a few other bells and whistles:

low down payment
Easier to use gifts for down payment and closing costs
No prepayment penalty
Financing for home improvement using FHA 203k programs

Who can get an FHA Loan?

Almost anybody can get an FHA loan. There are no income limits. However, there are limits on how much you can borrow. In general, you're limited to median home prices in your area. To find the limits in your region, visit HUD's Website. To qualify for an FHA loan, you'll need to have reasonable debt to income ratios. You don't need perfect credit but you will need to have a credit score of at least 620.


Compare the differences of the loan types available to find the one that is right for you. You will find information on 30 year fixed, conventional loans, jumbo loans, super conforming (conventional jumbo), FHA and VA loans. Of course you can always call and speak to one of our loan consultants.