A Federal Housing Administration (FHA) loan is a type of program that is insured by the FHA and a popular option among many homebuyers.

An FHA loan typically requires a minimal down payment when purchasing a home or refinancing a mortgage. A 3.5% down payment on a purchase is all that is needed to secure an FHA loan, making it an easier alternative to secure home financing. They also have some qualification requirements that are more lenient than other loan types, such as a conventional loan.

Whether you’re a first-time home buyer, refinancing, or simply moving to another home, FHA’s can be available to you.

While FHA loans offer many benefits and make it easier to find financing, it is important to remember consider whether it truly is a great fit for you. Smaller down payments like mean a longer term which means more overall interest will be paid on a purchase. To really get a feel for what an FHA loan consists of and if it’s a good fit, speaking with one of our Roseville mortgage professionals is highly recommended.


Another great thing about FHA loans is that there aren’t any income limits, meaning that as long as you can prove that you will be able to make your payments, you don’t need to have a high income to obtain one. However, you remain eligible for an FHA loan even if you do have a higher income, something that would normally disqualify you in many first-time home buyer programs.

Some qualifying requirements for FHA’s include two years of consistent employment with a consistent income, good credit since declaring bankruptcy (if applicable, more than 2 years ago), good credit since foreclosing (if applicable, more than 3 years ago), and an existing credit score. You don’t need to have a great credit score, and the guidelines may vary on a person-to-person basis. If an FHA loan sounds like something that’s right for you, reach out to our team today to learn how to get started!