FHA loans require a minimum down payment as low as 3.5% for credit scores of 580 or higher. They also include mortgage insurance premiums (MIP) to protect lenders against defaults. Understand down payment and MIP for FHA loans.
Explore refinancing options including streamline refinancing for lower rates and cash-out refinancing to access home equity. Learn about FHA loan refinancing.
Starting your FHA loan application is easy. Our team will help you gather necessary documents, ensuring a smooth application process. Begin your FHA loan application.
The minimum credit score typically required for an FHA loan is 580 for the lowest down payment option. However, applicants with lower scores may still be considered but might need a higher down payment.
FHA loans are generally for primary residences. The property must meet specific FHA standards regarding safety and liveability.
FHA mortgage insurance includes an upfront premium and an annual premium. These fees protect the lender in case of borrower default and are typically included in the loan amount.
Closing costs for FHA loans can include lender fees, third-party fees, and upfront mortgage insurance. The specific costs can vary based on the loan amount and other factors.
Yes, you can refinance an existing mortgage with an FHA loan. Options include streamline refinancing for existing FHA loans and cash-out refinancing.
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