What is the minimum down payment for an FHA loan?

3.5% with a 580+ credit score, or 10% with a 500-579 credit score.

Does FHA mortgage insurance go away?

For loans with less than 10% down, FHA MIP lasts the life of the loan. Many borrowers refinance to conventional once they reach 20% equity.

FHA Mortgage Loans

FHA Loans: Lower Down Payment, More Flexibility.

Q: Can I use an FHA loan for a 2-4 unit property?

Yes — as long as you live in one unit as your primary residence.

Q: Are there income limits for FHA loans?

No. FHA has no income limits — anyone meeting the credit, employment, and property guidelines may qualify.

Government-backed FHA loans make homeownership accessible for first-time buyers and those with less-than-perfect credit. As little as 3.5% down with a 580+ credit score.

Get Pre-Approved Today 📞 (714) 470-6091

3.5%

Min. Down Payment

580+

Min. Credit

57%

Max DTI Allowed

21 Days

To Close

FHA Advantages

Why Choose an FHA Loan

🏡

3.5% Down Payment

Buyers with a 580+ credit score can purchase with just 3.5% down — significantly lowering the barrier to homeownership compared to conventional requirements.

📉

Lower Credit Bar

FHA accepts credit scores as low as 500 (with 10% down) or 580 (with 3.5% down). Much more accessible than conventional loan credit requirements.

🎁

Gift Funds Allowed

The entire down payment can come from a family gift — no requirement for the buyer's personal savings, making it ideal for buyers receiving family support.

🔄

Assumable Mortgage

FHA loans can be assumed by a future buyer — a uniquely valuable feature when rates rise above your original loan rate, adding marketability to your home.

Find Out If FHA Is Right for You

Alex will compare FHA vs. conventional side-by-side so you know which option saves more money long-term.

Check FHA Eligibility Call (714) 470-6091

Requirements

FHA Qualification Highlights

✓
580+ Credit (3.5% down)
500–579 credit score requires 10% down payment
✓
Stable 2-Year Employment
Same employer or same field preferred for consistency
✓
Primary Residence Only
FHA is exclusively for owner-occupied properties
✓
FHA Loan Limits Apply
Vary by county and property type — Alex can verify your limit
✓
HUD Property Standards
Property appraisal includes condition review per HUD guidelines
✓
DTI Up to 57%
More flexible than conventional; perfect for buyers with existing debt

FAQ

Common FHA Questions

Does FHA mortgage insurance (MIP) ever go away?

For loans with less than 10% down, FHA MIP lasts the life of the loan. With 10%+ down, MIP drops after 11 years. Many borrowers refinance to conventional once they reach 20% equity to eliminate ongoing MIP costs.

Can I use FHA for a 2–4 unit property?

Yes — FHA allows 2, 3, and 4-unit properties as long as you live in one unit as your primary residence. This "house hacking" strategy can let rental income offset your mortgage payment, making it a powerful wealth-building tool.

Can I refinance from FHA to conventional?

Absolutely. Once you've built 20% equity and improved your credit, refinancing to conventional eliminates MIP and can lower your rate. Alex will run the break-even analysis to determine if and when refinancing makes financial sense.

Are there income limits for FHA loans?

No. FHA has no income limits — anyone who meets the credit, employment, and property guidelines can use an FHA loan. This is one of the key differences from some down payment assistance programs that do have income caps.

Free Consultation

Get Pre-Approved Today

Tell Alex about your situation. No obligation, no hard sell — just expert guidance from a licensed professional.

🔒 Secure & Confidential · NMLS #335813 · Equal Housing Lender