Government-backed loans designed for first-time homebuyers and those with lower credit scores. Get into your dream home with as little as 3.5% down.
FHA loans have been helping Americans achieve homeownership since 1934. These government-insured mortgages are particularly beneficial for first-time buyers who may not have perfect credit or a large down payment saved.
The FHA loan program offers several advantages that make it easier to qualify compared to conventional loans. Lower down payment requirements, more flexible credit guidelines, and the ability to use gift funds for your down payment are just a few of the benefits.
FHA loans require both an upfront mortgage insurance premium (UFMIP) and an annual mortgage insurance premium (MIP). While this adds to your costs, it's what allows the program to offer such favorable terms to borrowers.
Getting started with your FHA Loan loan is simple. Follow these steps to begin your homeownership journey.
Complete our quick online form to see your estimated loan amount and rates - no impact on your credit score.
Provide proof of income, employment verification, bank statements, and identification for full pre-approval.
Receive your official pre-approval letter showing sellers you're a serious, qualified buyer.
Shop with confidence knowing exactly what you can afford. We'll be here when you find the perfect home.
Complete the final steps, sign your documents, and get the keys to your new home!
The minimum down payment is 3.5% of the purchase price if your credit score is 580 or higher. If your score is between 500-579, you'll need at least 10% down.
Yes! FHA allows 100% of your down payment to come from gift funds from family members, employers, or approved down payment assistance programs.
For loans with less than 10% down, MIP is required for the life of the loan. With 10% or more down, MIP can be removed after 11 years.
No, FHA loans are only for primary residences. You must intend to live in the home as your main residence.
Real experiences from homeowners who chose FHA Loan loans
"Alfredo and his team made our first home purchase so easy! As first-time buyers, we had so many questions, and they patiently walked us through every step. We closed in 3 weeks!"
"As a veteran, I was thrilled to work with someone who understood the VA loan process. The team made everything smooth and stress-free. Highly recommend!"
"Professional, knowledgeable, and genuinely caring. The Madrid Mortgage Team got us an amazing rate and closed faster than we expected. Thank you!"
"We were nervous about the refinance process, but Alfredo explained everything clearly and got us a rate that saves us $400/month. Amazing service!"
Take the first step toward your dream home. Our simple pre-qualification process takes just minutes.
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