FHA Loans
Government-backed mortgages with low down payments and flexible credit requirements — ideal for first-time buyers and those rebuilding credit.
Why Choose an FHA Loan?
Low Down Payment
Get into a home with as little as 3.5% down — far less than conventional loans typically require.
Flexible Credit
FHA loans are accessible to buyers with credit scores as low as 580, making homeownership possible for more people.
Competitive Rates
Because FHA loans are government-backed, lenders can offer competitive interest rates even to lower-credit borrowers.
Gift Funds Allowed
Your down payment can come from a gift from a family member, making it easier to get started.
Refinance Options
FHA Streamline Refinance lets existing FHA borrowers refinance with minimal paperwork and no appraisal required.
Multi-Unit Properties
FHA loans can be used for 1–4 unit properties, so you can buy a duplex and rent out the other units.
FHA Loan Requirements
- Minimum credit score of 580 for 3.5% down payment
- Credit scores 500–579 may qualify with 10% down
- Debt-to-income ratio typically under 43%
- Property must be your primary residence
- Property must meet FHA minimum standards
- Steady employment history (2 years preferred)
Frequently Asked Questions
What is the FHA loan limit in California?
FHA loan limits vary by county. In Southern California, limits are generally higher due to elevated home prices. Contact us for the current limit in your area.
Do I have to pay mortgage insurance on an FHA loan?
Yes — FHA loans require an upfront mortgage insurance premium (MIP) of 1.75% of the loan amount, plus an annual MIP paid monthly. This is what allows FHA to offer flexible credit requirements.
Can I use an FHA loan to buy a condo?
Yes, but the condo project must be on the FHA-approved condo list. We can help you verify eligibility before you make an offer.
How long does FHA loan approval take?
Most FHA loans close in 30–45 days. Getting pre-approved first can speed up the process significantly.
Ready to Apply for an FHA Loan?
Call Lori today at 909 224 8307 or apply online now.