FHA guidelines can be more flexible than many conventional programs, though lender overlays may still apply.
FHA HOME LOANS
FHA Home Loans for Flexible Homebuying
Buy a home with as little as 3.5% down, even with imperfect credit. One of the most accessible options for first-time and repeat buyers. Available across our seven licensed states.
Independent Brokerage, Many Lenders
Licensed in 7 States
NMLS #2367229
Decades of Combined Experience
FHA BASICS
What Is an FHA Loan and How Does It Work?
An FHA loan is a mortgage insured by the Federal Housing Administration. Because the government backs the loan, lenders can accept smaller down payments and more flexible credit than most conventional programs allow. It is one of the most widely used paths for first-time buyers and for borrowers rebuilding credit.
Lower Down Payment
FHA loans may allow eligible buyers to purchase with as little as 3.5% down when requirements are met.
Flexible Credit Review
Primary Residence Focus
FHA purchase loans are generally used for homes the borrower will occupy as a primary residence.
FHA VS CONVENTIONAL
How Does FHA Compare With a Conventional Loan?
Neither is better in the abstract. FHA usually wins on credit flexibility and minimum down payment. Conventional usually wins on mortgage insurance, because it can be removed once you build equity. The right answer depends on your credit, your down payment, and how long you plan to hold the loan. We compare both on your actual numbers.
| Item | FHA loan | Conventional loan |
|---|---|---|
| Down payment | As little as 3.5% for eligible buyers. | As little as 3% for some eligible buyers. |
| Credit profile | More flexible credit requirements than most conventional programs. | Stronger credit profiles may be a better fit for conventional financing. |
| Mortgage insurance | Upfront mortgage insurance premium and annual premium paid monthly. | Mortgage insurance can typically be removed once you build enough equity. |
| Property use | Primary residence. | Primary residence, second home, or investment property depending on program requirements. |
FHA LOAN FIT
Why Do Buyers Use FHA Loans?
Buyers and homeowners who need lower down payment options or more flexible credit qualification, including first-time buyers and borrowers with past credit challenges.
Lower Down Payment
As little as 3.5 percent for eligible buyers.
Flexible Credit Qualification
FHA credit guidelines are more flexible than most conventional loans. Specific minimums vary by lender and your overall financial profile.
Compare FHA With Conventional
The right answer depends on your credit, your down payment, and how long you plan to hold the loan.
LOAN OPTIONS
What Home Loan Options May Be Available to Buyers?
There is no single best loan for every buyer. The right path depends on your credit profile, income, assets, property, timing, and long-term plan.
Conventional Loans
Worth comparing when credit, down payment, and mortgage insurance costs may make conventional the stronger fit.
VA Loans
Available to eligible service members, veterans, and qualifying surviving spouses with powerful purchase benefits.
USDA Loans
No down payment required in eligible rural and suburban areas when borrower and property requirements are met.
THE BROKER ADVANTAGE
One Broker. Many FHA Loan Options.
A bank can only offer what that bank sells. If their FHA pricing is uncompetitive this week, you will never hear about it, because they have no reason to tell you.
We are independent. We shop our lender network for your scenario, and because brokers access wholesale pricing, the options often beat what the same borrower would be quoted at a retail branch. You get more choices, an honest comparison, and someone whose job is to represent you rather than a product line.
That is the whole reason Mortgage Marketplace exists.
FHA LOAN FAQ
Questions Buyers Ask About FHA Loans
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. Because the government backs the loan, lenders can accept smaller down payments and more flexible credit than most conventional programs allow. It is one of the most widely used paths for first-time buyers and for borrowers rebuilding credit.
What credit score do I need for an FHA loan?
FHA loans can work for buyers with credit in the 500s and 600s depending on the lender and the rest of the file. The program minimum and the lender minimum are two different things, and lenders add their own requirements on top. That gap is exactly what a broker is built to find. A file one lender declines can be perfectly workable at another.
How much down payment does an FHA loan require?
As little as 3.5 percent for eligible buyers, which is a fraction of what a 20 percent down payment would require. Down payment assistance grants and deferred-payment programs may reduce that further, and gift funds from family are permitted under program guidelines.
Does an FHA loan require mortgage insurance?
Yes. FHA loans carry an upfront mortgage insurance premium and an annual premium paid monthly. On most FHA loans today the annual premium stays for the life of the loan rather than dropping off at a set equity point. Many borrowers refinance into a conventional loan later to remove it once they have equity.
Can I buy a fixer-upper with an FHA loan?
Yes, through the FHA 203k renovation program, which lets you finance the purchase price and the cost of repairs in a single loan. The property has to meet minimum standards at closing, so a home needing significant work is often better suited to a 203k than a standard FHA loan.
Can I use an FHA loan more than once?
Generally you may have one FHA loan at a time, since the program is designed for owner-occupied primary residences. There are exceptions for relocation, family size changes, and other documented circumstances. If you have had an FHA loan before, tell us the details and we will confirm what is available to you.
Is an FHA loan better than a conventional loan?
Neither is better in the abstract. FHA usually wins on credit flexibility and minimum down payment. Conventional usually wins on mortgage insurance, because it can be removed once you build equity. The right answer depends on your credit, your down payment, and how long you plan to hold the loan. We compare both on your actual numbers.
How long does it take to close an FHA loan?
Closing takes 21 to 30 days in most cases once you have an accepted offer and your documents are in. Pre-approval usually takes one to two business days. We are licensed in Oregon, California, Washington, Idaho, Texas, Florida, and Montana, with offices in Salem and Eugene, Oregon.
Ready to Explore Your FHA Loan Options?
We compare FHA loan options across multiple lenders so you can see your real rate and down payment before you apply. Licensed in OR, CA, WA, ID, TX, FL, and MT.