What is a FHA Loan?


  • An FHA Mortgage Loan, also known as a Federal Housing Administration Mortgage Loan, is a government-sponsored mortgage program for home buyers. It is geared toward first-time home buyers and has easier credit score requirements. An FHA Mortgage will allow applicants to qualify for a loan with a smaller down payment than most loans that be as little as 3.5 percent down.


Key Aspects of a FHA Loan

  • Government-sponsored mortgage loan program
  • Maximum borrowing of $417,000
  • Minimum 640 FICO score required
  • Minimum required down payment: 3.5% of purchase
  • Fixed-rate terms available: 30, 25, 20, 15 and 10-year


Adjustable Rate Mortgage Loan


Document Checklist

  • Full and complete online loan application
  • 2 years recent tax returns w/ W2’s
  • Business returns if self employed w/ 1099’s
  • 2 recent pay stubs
  • Home Insurance Dec Page
  • Mortgage Statement
  • Copy of Executed Purchase Agreement, only if Purchasing
  • Copy of Earnest Money Deposit, only if Purchasing
  • 2 months recent bank statements, only if Purchasing
  • Driver’s License
  • Social Security Card