FHA (Federal Housing Administration)
Government Institution
The Federal Housing Administration (FHA) has been helping homeowners since 1934 by insuring home mortgage loans made by lenders, brokers and banks. FHA offers a variety of purchase, refinance, and renovation mortgage options for a variety of property types, including: single-family homes, multifamily properties, and manufactured homes. FHA programs are typically easier to qualify for, making them an attractive option for many first time homebuyers and long-time homeowners alike.
First Mortgage Programs Offered by FHA (Federal Housing Administration)
FHA 203(k) Standard Renovation Refinance
Best For: Limited Equity, Low Down Payments, Home Renovations
The FHA 203(k) Standard allows borrowers to refinance and include for the cost of renovations in the loan, with as little as 2.25% equity in the home.
Min. Credit Score
620
Min. Equity
2.25%
Max. Loan Amount
$498,257 - $1,149,825
FHA 203(k) Limited Renovation Refinance
Best For: Limited Equity, Low Credit Scores, Home Renovations
A government-insured loan program that provides up to $35,000 for minor remodeling and non-structural repairs.
Min. Credit Score
620
Min. Equity
2.25%
Max. Loan Amount
$498,257 - $1,149,825
FHA 203(k) Limited Renovation Loan
Best For: First Time Homebuyers, Low Down Payments, Home Renovations
A government-insured loan program that provides up to $35,000 for minor remodeling and non-structural repairs when buying a home.
Min. Credit Score
620
Min. Down Payment
3.5%
Max. Loan Amount
$498,257 - $1,149,825
FHA Streamline Refinance
Best For: Rate Reduction, Low Credit Scores, Easy Process
Refinance your existing FHA mortgage with limited documents and fewer steps in order to lower to your monthly mortgage expense.
Min. Credit Score
640
Min. Equity
0%
Max. Loan Amount
$498,257 - $776,550
FHA Cash-Out Refinance
Best For: Low Credit Scores, Easy Qualification, Cash-Out
Refinance and access your home equity up to 80% of value with the easy-to-use and convenient FHA cash-out refinance home loan program.
Min. Credit Score
580
Min. Equity
20%
Max. Loan Amount
$498,257 - $776,550
Up to 80% of Value Estimated Cash-Out Opportunity
FHA Rate-and-Term Refinance
Best For: Rate Reduction, Low Credit Scores, Easy Process
Reduce your interest rate, change your terms, or lower your mortgage insurance obligation with limited home equity and an easier process.
Min. Credit Score
580
Min. Equity
2.25%
Max. Loan Amount
$498,257 - $776,550
FHA 203(k) Standard Renovation Loan
Best For: First Time Homebuyers, Low Down Payments, Home Renovations
The FHA 203(k) Standard allows borrowers to purchase a home and include for the cost of renovations in the loan, with as little as 3.5% down payment.
Min. Credit Score
620
Min. Down Payment
3.5%
Max. Loan Amount
$498,257 - $1,149,825
FHA Purchase Loan
Best For: First Time Homebuyers, Low Credit Scores, Lowest Rates, Easy Qualification
Low down payment requirements, easier qualification guidelines, lower rates, and flexible terms for first time homebuyers and beyond.
Min. Credit Score
580
Min. Down Payment
3.5%
Max. Loan Amount
$498,257 - $776,550
FHA High-Balance Purchase Loan
Best For: Large Loan Amounts, Easy Qualification
FHA financing option for purchasing a home above the government limit in designated high cost counties across the United States.
Min. Credit Score
580
Min. Down Payment
3.5%
Max. Loan Amount
$779,700 - $1,149,825
FHA High-Balance Rate-and-Term Refinance
Best For: Large Loan Amounts, Easy Qualification
FHA refinancing above the standard FHA loan limit in high cost counties with easier qualification and typically lower rates than conventional.
Min. Credit Score
580
Min. Equity
2.25%
Max. Loan Amount
$779,700 - $1,149,825
FHA High-Balance Cash-Out Refinance
Best For: Large Loan Amounts, Easy Qualification
Cash-out refinancing above the standard FHA loan limit in high cost counties with easier qualification and typically lower rates than conventional.
Min. Credit Score
580
Min. Equity
20%
Max. Loan Amount
$474,950 - $1,089,300
Up to 80% of Value Estimated Cash-Out Opportunity
See If You Qualify for FHA (Federal Housing Administration) Loans
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