An FHA loan is a flexible loan option for those who have low credit and low down payment.
If you have at least 3.5% down payment & a minimum credit score of 580, this loan option is for you.
Let's get started.
The minimum credit score is 580.
You will need at least 3.5% of the sales price as a down payment.
There is an upfront mortgage insurance premium of 1.75% of the base loan amount that gets financed into the loan. This will be a part of your mortgage payment.
Benefits of FHA Loans
Get Pre-Approved Now
A FHA pre-approval from Prime Rate Mortgage can get you to your dream house.
Check out some of the FHA Loan Options we offer.
Use our tools to see what homeownership could look like for you.
Ready for an FHA Loan?
Take the first step towards owning your own home.
Not necessarily, when purchasing a new home, the seller can pay for all or part of your closing. Contact us to help you with this.
Yes! You can use a family gift to pay your closing costs.
You can only have one primary FHA home at a time, unless you have certain circumstances such as a growth in family or relocating for a job that is more than 100 miles away.
No, FHA loans are only to be used for primary residence.
These materials are not from HUD, VA, or FHA and were not approved by HUD or any other government agency.