If you're buying your first home or working through some credit challenges, an FHA loan can open doors that conventional financing might not — with lower down payment requirements and more flexible qualifying guidelines.
Backed by the Federal Housing Administration, FHA loans allow for a low minimum down payment and are generally more forgiving on credit scores and debt-to-income ratios. They're one of the most widely used programs for first-time buyers — and for good reason.
A Great Fit If You're…
- A first-time homebuyer
- You have a credit score in the 580–619 range
- Limited funds for a down payment
- You've experienced past credit challenges and are working to rebuild