• Has down payment options as low as 3.5%.
  • Allows closing costs to come from a gift or grant.
  • Requires you to pay upfront and monthly FHA mortgage insurance premiums.
  • Available in a variety of fixed-rate and adjustable-rate loan options.


  • Requires less cash upfront for your down payment and closing costs.
  • Available for all income levels.
  • Allows a co-applicant to help you qualify even if the person doesn’t live in the home.


  • FHA loans have the benefit of a low down payment but there are other loan products with the similar options.
  • You can typically only have one FHA mortgage at a time.
  • While qualifying guidelines are less strict than other products, you may find FHA to be a more expensive financing option and should be considered after thoroughly evaluating all product options that meet your credit qualifying and financial needs.
  • We will always help you compare the overall costs of all products, including the monthly and long-term costs and conditions of the required mortgage insurance.