fha loans

features and details

fha loans

features and details

FHA offers one of the lowest down payment options available to borrowers.

Features and Details

  • Minimum of 620 credit score
  • Loan limit of $471,500 on FHA high balance (metro areas), if applicable
  • Seller contributions of 6% can be used towards closings costs, prepaids and discount points
  • 30, 20 and 15-year fixed rate options at competitive rates
  • Gift funds allowed as well as non-occupying co-borrowers
  • Not available on second homes or investment properties
  • No income limits
  • Higher debt to income ratios make it easier to qualify