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What you need to know about FHA loans

You can use an FHA loan to purchase a new home with a down payment of as little as 3.5%. The Federal Housing Administration (FHA) insures FHA home loans. Because of that, FHA-approved lenders can offer these more flexible loans because borrowers using an FHA loan pay mortgage insurance (MI), which protects the lender in case the borrower defaults.

An FHA loan has less strict qualifying criteria and credit requirements compared to a conventional loan. The minimum credit score depends on a variety of factors, so be sure to check with your Certainty Loan Officer. The FHA mortgage was originally created for first-time homebuyers, but it is now open to a much wider audience. Under FHA guidelines, if you have not owned a primary residence for at least three years you may qualify as a first-time homebuyer!

* Certainty Home Loans is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the Federal government.

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Flexible qualifying guidelines with lower credit score requirements

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Fixed and adjustable rate terms available

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Down payment as low as 3.5%

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Down payments can be paid with gift funds

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Common FHA questions, answered.

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