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Federal Housing Administration Loan

Don't have a lot of money for a down payment?

FHA loans are designed for those looking to purchase a new home but don’t have a lot saved up for a down payment. The Federal Housing Association (FHA) originally created this loan option to offer homebuyers an alternative to conventional financing. Along with lower down payment options, FHA home loans provide flexible guidelines that could help you achieve your dream of homeownership.

Begin your FHA Loan journey today.

What are the benefits of an FHA loan?

01.

Lower Down Payment

The minimum down payment for an FHA home mortgage is typically only 3.5%, making this a great option for those homebuyers who haven’t saved much for a down payment.

 

02.

Easier Credit Qualification

Your credit score plays a huge role in the type of mortgage and interest rates you qualify for. FHA Loans offer some of the lowest credit score requirements compared to other programs. 

Apply for your FHA Loan in just 3 easy steps.

Not sure where to start when it comes to your FHA home loan? Don’t worry – we have you covered! Keep scrolling to see the steps ahead of you.

Step 1

Get pre-approved

Our mobile app, Mortgage Express, helps you get pre-approved quickly. It’s secure and you can upload all required documents straight into the app to save you time and energy.

Step 2

Talk to a Mortgage Consultant

Your GVC Mortgage Consultant will keep you and your agent updated every step of the way with our Milestone Updates.

Step 3

Close on your loan

Your Mortgage Consultant will assist you with everything you need and help you setup your closing appointment.

Federal Housing Administration Loan

Frequently asked FHA questions.

How much do I need for an FHA Loan down payment?
Your down payment will partially depend on your credit score. Typically, the higher your credit score, the lower your down payment can be. However, FHA Loans have a minimum 3.5% down payment.
What are the FHA Loan limits?
The Federal Housing Administration adjusts the loan limits every year to account for inflation and rising home prices. The maximum and minimum loan limits vary according to the cost of living in your area. To learn more about the limits in your area, contact a Mortgage Consultant.
What are the credit score qualifications for FHA home loans?
A typical credit score for an FHA Loan is 620. However, there are exceptions based on your specific situation. To learn more about the credit score requirements for FHA loans, contact a local Mortgage Consultant.
Do I have to pay mortgage insurance with an FHA Loan?
If your down payment is less than 20%, you’ll be required to pay mortgage insurance. More information about your mortgage insurance will be provided to you from your Mortgage Consultant as you progress through the process.