FHA Loan

FHA loans make homeownership accessible with a lower down payment.

Backed by the Federal Housing Administration, FHA loans require as little as 3.5% down and accept credit scores as low as 580. They are one of the most popular options for first-time buyers.

Check Your Eligibility

Key Features

  • Down payment as low as 3.5%
  • Credit scores from 580 accepted
  • Upfront MIP (1.75% of loan amount) plus annual MIP
  • FHA MIP stays for life of the loan with under 10% down
  • Gift funds allowed for down payment and closing costs
  • Streamline refinance option available for existing FHA borrowers

Who It Is For

FHA loans are ideal for first-time buyers, borrowers with lower credit scores, or anyone who wants to put less money down. The trade-off is that you will pay mortgage insurance for the life of the loan if you put less than 10% down.

Austin often helps borrowers compare FHA vs. conventional side by side to see which saves more money over the time they plan to own the home.

Explore Related

Compare with Conventional Down Payment Assistance First-Time Buyers

Is an FHA loan right for you?

Austin will help you compare FHA against other options and pick the best path forward.

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