FHA Loans
Federal Housing Administration loans designed for buyers who want a clear path to homeownership — low down payment, flexible credit, and government-backed security.
Built for Real Buyers
Federal Housing Administration (FHA) loans are a popular option for home buyers, particularly first-time buyers, who may not have a large down payment or a high credit score. FHA loans are insured by the government, which means lenders are more willing to offer these loans to borrowers who may not qualify for a conventional mortgage.
FHA loans typically require a down payment of just 3.5% of the purchase price, making it easier for buyers to get into a home. In addition, FHA loans have more flexible credit requirements than conventional loans, allowing borrowers with less-than-perfect credit to still qualify. These factors make FHA loans an attractive option for many home buyers looking to achieve their dream of homeownership.
Why FHA Works
Government backing gives lenders confidence to work with a wider range of borrowers — so your credit history and savings don't have to be perfect.
What Makes FHA Stand Out
Low Down Payment
Just 3.5% down with a credit score of 580 or higher. Down payment funds can come from gifts, grants, or approved assistance programs.
Flexible Credit Requirements
Designed for borrowers with imperfect credit histories. Scores as low as 500 may still qualify with a 10% down payment.
Competitive Interest Rates
Government backing often results in lower rates compared to conventional loans for borrowers with similar credit profiles.
Gift Funds Allowed
Your entire down payment can come from a gift from family, an employer, or an approved charitable organization.
Streamline Refinance
Already have an FHA loan? The FHA Streamline Refinance lets you lower your rate with minimal paperwork and no appraisal required.
New Construction Eligible
FHA loans can be used for new construction, making it easier to purchase a brand-new home from a builder.
Do You Qualify?
Basic Requirements
Great For...
Not sure if you qualify? Every situation is different. Stevenson reviews your full picture — credit, income, assets, and goals — to find the best path to approval. One conversation can change everything.
FHA vs. Conventional
| Feature | FHA Loan | Conventional Loan |
|---|---|---|
| Minimum Down Payment | 3.5% | 3% – 20% |
| Minimum Credit Score | 500 (580 for 3.5%) | 620+ |
| Mortgage Insurance | Required (MIP) | Required if <20% down (PMI) |
| Debt-to-Income Ratio | Up to 43%+ | Up to 45% |
| Gift Funds Allowed | ✔ Yes | ✔ Yes (restrictions apply) |
| Seller Concessions | Up to 6% | Up to 3% – 9% |
| Property Requirements | Stricter (FHA appraisal) | More flexible |
| Best For | Lower credit / low down payment | Stronger credit / higher loan amounts |
Your Path to Closing
Apply & Pre-Qualify
Complete a simple application online. We review your credit, income, and assets to determine your FHA eligibility.
Conditional Approval
Receive a pre-approval letter showing sellers you're a serious buyer backed by a solid FHA commitment.
Find Your Home
Shop with confidence. Your pre-approval tells you exactly how much house you can buy.
Close & Get Keys
We handle underwriting and coordinate closing so you can move in without the stress.
Let's Find Out If FHA Is Right For You
Every situation is unique. A quick conversation with Stevenson is all it takes to know exactly where you stand and what your options are.