FHA (Federal Housing Administration)

Type

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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