Borrower
Credit, income, and debt review
Can an FHA Loan Help Me Buy a Home With a Smaller Down Payment?
Yes. FHA loans can help eligible buyers purchase with a smaller down payment, often as low as three and a half percent. They are insured by the FHA and made through approved lenders, so mortgage insurance and lender guidelines still matter.
Look at the fit, not just the down payment
Credit, income, debt, the property, and the lender’s requirements still matter. The allowable loan amount also depends on the county and property. A lender can confirm the requirements that apply to your purchase.
Ask for comparable offers
Compare an FHA offer with other options using the same price and down payment. Review the monthly payment, mortgage insurance, upfront costs, and how long you expect to keep the loan.
3.5%
Minimum down payment for eligible FHA borrowers
Property
Condition and appraisal review
Budget
Insurance and closing costs
Talk to Dominique About Buying With an FHA Loan
Share your plans, priorities, and timing with Dominique.