Loan Programs

FHA Loans

Government-insured loans with flexible credit guidelines and small down payment options.

FHA loans are insured by the Federal Housing Administration. That insurance lets lenders approve borrowers who might not fit conventional guidelines, especially on credit history.

FHA loans carry a mortgage insurance premium, paid partly at closing and partly in the monthly payment. Kam can show you when it makes sense to start with FHA and refinance into a conventional loan later.

Options

FHA options

FHA purchase

The standard FHA loan for buying a primary residence, including condos on the FHA-approved list.

FHA 203(k) renovation

Finance the purchase and the cost of repairs or upgrades in one loan.

FHA streamline refinance

Lower the rate on an existing FHA loan with reduced paperwork.

Requirements

What lenders look for

1Credit scoreFHA allows lower scores than most programs. Many lenders work with scores in the 580 range and above.

2Primary residenceYou must live in the home. FHA loans are not for investment properties.

3Debt-to-income ratioFHA allows higher ratios than many programs when the rest of the file is strong.

4Property standardsThe home must pass an FHA appraisal that checks safety and condition.

Benefits

Why borrowers choose it

Flexible credit

A good path for buyers rebuilding credit or with a short credit history.

Gift funds allowed

Family can help with the down payment and closing costs.

Seller help with costs

Sellers can contribute toward your closing costs within FHA limits.

Guidelines shown are typical and vary by lender. Loan approval, rates and terms depend on credit, income, property and lender guidelines. Program availability and requirements are subject to change. This is not a commitment to lend.

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