Loan Options • FHA Loans

FHA loans · Flexible, government-backed financing

FHA loans that help you get started with confidence.

FHA loans are designed to make homeownership more accessible—with lower down payment options, more flexible credit guidelines, and structures that support buyers who are still building their financial story.

FHA is backed by the Federal Housing Administration and has its own rules for down payment, mortgage insurance, and property requirements. If you like to read first, the FHA Loans Guide walks through how FHA compares side-by-side with conventional and other programs.

See your FHA options Ask FHA questions first

NMLS #277954 • Success Mortgage Partners • FHA loans are insured by the Federal Housing Administration. Program availability, loan limits, and requirements vary by location and profile. All loans subject to approval. Equal Housing Lender.

Coaching insight

Who FHA loans are built to help.

FHA loans can be a smart fit when you have a smaller down payment, are still strengthening your credit, or want some added flexibility while you get into the right home.

First-time & early-stage buyers

You have solid income and a reasonable budget, but you don’t have 10–20% down saved yet. FHA’s 3.5% minimum down may help you step in sooner.

Credit rebuilders

You’ve had some bumps in your credit history but are back on track and want a program that recognizes progress—not perfection.

Multi-unit owner-occupants

You’re interested in a 2–4 unit property where you live in one unit and rent the others, using FHA to help you get started.

How it works

Down payment, credit, and mortgage insurance.

FHA loans are designed to be more forgiving in some areas and more structured in others. We’ll look at how the pieces fit together for your situation.

Down payment: As low as 3.5% down when you meet minimum credit guidelines.
Credit: More flexibility for scores and past credit events than many conventional options.
Mortgage insurance (MIP): Includes an upfront premium and monthly MIP built into the payment.
Property rules: FHA has standards for condition, safety, and occupancy as a primary residence.

Good fit signals

You’re comfortable with the payment, but a higher down payment would drain your reserves
Your credit story is improving, but not yet ideal for the best conventional pricing
You’re buying a primary residence and plan to live in the home
You value getting into the right home sooner, then revisiting options later

One of our jobs is to show you when FHA shines and when conventional wins so you’re not left guessing.

Strategy paths

Common ways buyers use FHA thoughtfully.

FHA doesn’t have to be “forever.” Many buyers use it as a strategic tool, then revisit their options once equity, income, or credit improves.

Low down payment entry: Use 3.5% down to get in, then build equity over time.
Gift funds: Combine your own funds with eligible gift money from family.
Co-borrower support: Add a qualified co-borrower to strengthen the overall file.
Future refinance: Start with FHA and later explore switching to a conventional loan when it makes sense.

Sample FHA scenarios

First-time buyer with modest savings and stable income using 3.5% down
Household with a past credit event that now has 12–24+ months of clean history
Buyer using gift funds from a relative to complete their down payment and costs
Client planning to improve credit and refinance out of FHA MIP later

We’ll talk honestly about whether FHA is a smart bridge for you—or whether another lane fits better today.

Cash to close

Upfront MIP, closing costs, and assistance.

Part of using FHA wisely is understanding how upfront costs, monthly costs, and assistance can work together.

Upfront MIP: Typically financed into the loan amount rather than paid entirely in cash.
Closing costs: Similar third-party and lender costs as other loans, which we’ll estimate clearly.
Seller credits & concessions: FHA allows sellers to contribute up to a set percentage toward costs.
Down payment assistance: In some cases, we may explore DPA programs where available and appropriate.

Things we’ll talk through

How much you’ll likely need for down payment, costs, and reserves
Whether seller credits or assistance programs might help
How FHA’s upfront and monthly MIP affect your payment
A realistic plan for building equity and improving your options over time

The goal is not just “getting approved,” but making sure the structure is sustainable and supports your next steps.

FHA purchase prep checklist

Most recent 30 days of pay stubs (if applicable)
W-2s and/or 1099s for the last 2 years
Federal tax returns, if requested based on your income type
2 months of bank or asset statements for down payment and reserves
Government-issued ID and Social Security card (or applicable documentation)
Current housing history (lease, mortgage statement, or proof of payment)

Helpful “nice-to-have” items

Rough budget for monthly payment and cash you’re comfortable bringing to closing
Documentation for any recent large deposits
Letters of explanation for prior credit events, if needed
Short list of neighborhoods, school districts, or property types you’re targeting
Any info on gift funds you may use toward down payment or costs

Next steps

Numbers and deeper dives.

Want one rough payment and a clearer lane forward? Start with the guides that fit your situation, then run quick numbers in the mortgage calculators.

FHA Loans Guide

Get the full walkthrough on down payments, MIP, property rules, and how FHA compares to other loan types.

Read the guide ↗

Conventional Loans Guide

See when conventional loans may beat FHA on long-term cost, equity build-up, and mortgage insurance.

Read the guide ↗

Down Payment Options & Assistance

Explore gift funds, concessions, and assistance programs so you’re not guessing how to structure cash to close.

Read the guide ↗

Mortgage Calculators

Estimate rough FHA-style payments, compare price points, and see how different down payments feel month-to-month.

Open calculators ↗

Quick answers

FHA loan FAQs.

Common questions that come up when we talk about FHA loans, down payment, credit, and how FHA fits alongside conventional options.

Many FHA buyers put 3.5% down when they meet minimum credit and guideline requirements. In some cases, a higher down payment may be recommended or required based on your profile, the property, or local loan limits.

FHA loans use Mortgage Insurance Premium (MIP) instead of private mortgage insurance (PMI). MIP includes an upfront premium and an annual premium built into your monthly payment. How long it lasts depends on your down payment and other factors—we’ll walk through the specifics for your scenario.

Often, yes. FHA allows gift funds from eligible sources such as certain family members. We’ll review who can give the gift, how the transfer should be documented, and how much can be covered by gifts versus your own funds and seller credits.

FHA can be used for certain 1–4 unit properties when you plan to occupy one of the units as your primary residence and the property meets FHA guidelines. It can be a powerful way to “house hack” and start building an investment foundation while you live in the property.

In many cases, yes. A common strategy is to use FHA to get in the door, then refinance into a conventional loan later if your equity, credit, and income support it. That can reduce or remove mortgage insurance and adjust your payment over time. We’ll talk about what would need to change and how long it might take.

Want to see if FHA is a wise next step?

Share a little about your budget, credit, and timeline. We’ll compare FHA and conventional options side-by-side so you can make a decision that supports both today’s move and tomorrow’s goals.

Start my FHA review Schedule a quick call

FHA loans are insured by the Federal Housing Administration and are subject to specific eligibility, documentation, property, and mortgage insurance requirements. Program availability, loan limits, and terms can change without notice and vary by state, property type, and borrower profile. This page is for informational purposes only and is not a commitment to lend. All loans subject to credit and collateral approval. All loans subject to approval. Equal Housing Lender.