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FHA LOAN

What is an FHA Loan?

FHA Loans, insured by the Federal Housing Administration, are designed to make homeownership accessible for individuals with lower credit scores or limited savings for a down payment. These loans are particularly popular among first-time homebuyers due to their lenient eligibility requirements. FHA Loans require a minimum down payment of just 3.5% and are available with flexible credit score thresholds, making them an ideal option for many aspiring homeowners.

Who is Eligible?

FHA Loans have straightforward eligibility criteria, including:

  • Credit Score: Borrowers can qualify with a credit score as low as 580 for the minimum down payment of 3.5%. Scores between 500 and 579 may also qualify, but require a 10% down payment.

  • Debt-to-Income Ratio (DTI): A maximum DTI of 43% is preferred, although higher ratios may be accepted with compensating factors.

  • Property Requirements: The home must be the borrower’s primary residence and meet FHA’s minimum property standards.

  • Loan Limits: FHA loan limits vary by location and are set annually based on the area’s cost of living.

These relaxed requirements make FHA Loans a go-to choice for borrowers who might not qualify for conventional loans.

Features of FHA Loans

Low Down Payment

FHA Loans allow borrowers to purchase a home with as little as 3.5% down, making homeownership more attainable.

Lenient Credit Requirements

With flexible credit score thresholds, FHA Loans are accessible to a wide range of borrowers, including those with imperfect credit histories.

Assumable Loans

FHA Loans are assumable, meaning a buyer can take over the seller’s mortgage, potentially at a lower interest rate.

Fixed and Adjustable Rate Options

Borrowers can choose between fixed-rate or adjustable-rate mortgages, depending on their financial needs and goals.

Possibility starts here

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It may be hard to believe, but in just a few clicks, a new home or mortgage savings could be yours.

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Client testimonials

What They Say About Us

Sarah M.
"Working with USA Mortgages was a game-changer. As a first-time homebuyer, I was nervous about the process, but they were so patient, explaining every detail and helping me find a loan that fit my budget. They truly made me feel like family. I’d recommend them to anyone!"
Kevin L.
"I was looking to refinance, but I’d been putting it off because of all the paperwork. USA Mortgages took care of everything and got me an incredible rate! The whole experience was straightforward, quick, and stress-free. I’m saving over $200 a month on my mortgage now!"
Luis G.
"I’d heard horror stories about mortgage brokers, but USA Mortgages changed my mind. They found me a great deal on my mortgage, and the whole team was responsive, friendly, and genuinely invested in helping me close on my dream home. I’m beyond grateful!"
Amy T.
"USA Mortgages turned what I thought would be a long, confusing process into a breeze. They answered all my questions, gave me solid advice, and were with me every step of the way. Thanks to them, I’m officially a homeowner! Can’t thank them enough."
Marcus J.
"As a veteran, finding a loan that respected my service was important to me. USA Mortgages guided me through every VA loan benefit, securing terms that worked for me and my family. This team knows their stuff and respects their clients – highly recommend!"
Jasmine H.
"I had some credit challenges, but USA Mortgages didn’t treat me any differently. They found options that other lenders didn’t and walked me through ways to improve my credit. Thanks to them, I’m a homeowner – something I didn’t think was possible!"