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Purchase Rates
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Get a clear picture of your monthly mortgage payment using your rate, credit score, and down payment information.
Affordability Calculator
Not sure what fits your budget? This calculator factors in your income, debts, and down payment to help you find the right price range.
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Ready to lower your rate or tap into your equity? Apply now and start your refinance journey with confidence.
Refinance Rates
Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
Blog
Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
Loan Products
Navigate all our loan product options and find the perfect loan for you.
Buy
Apply Now
Ready to start your home buying journey? Apply now and get pre-approved for your mortgage.
Purchase Rates
Know the rates, know your options. Start building your homeownership plan today.
Monthly Mortgage Calculator
Get a clear picture of your monthly mortgage payment using your rate, credit score, and down payment information.
Affordability Calculator
Not sure what fits your budget? This calculator factors in your income, debts, and down payment to help you find the right price range.
Refinance
Apply Now
Ready to lower your rate or tap into your equity? Apply now and start your refinance journey with confidence.
Refinance Rates
Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Rates
Resources
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
Blog
Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
Loan Products
Navigate all our loan product options and find the perfect loan for you.
Customers
About
FHA loan
Backed by the Federal Housing Administration, FHA loans make homeownership more accessible for buyers with limited savings or less-than-perfect credit. They’re especially popular among first-time homebuyers seeking flexible qualification standards.
Frequently asked questions
Everything you need to know about FHA loan
What makes FHA loans different?
FHA loans are backed by the Federal Housing Administration and are designed to help first-time homebuyers or those with lower credit scores access homeownership. They require smaller down payments (as low as 3.5%) and more lenient credit requirements than conventional loans.
What's the minimum credit score for an FHA loan?
Most lenders accept borrowers with a credit score of 580 or higher for a 3.5% down payment. If your score is between 500 and 579, a larger down payment (usually 10%) may be required.
Do FHA loans require mortgage insurance?
Yes. FHA loans include an upfront mortgage insurance premium (UFMIP) and an annual premium that's divided into monthly payments. These premiums help protect lenders in case of default.
Can I use an FHA loan to buy a fixer-upper?
Yes. The FHA 203(k) Rehabilitation Loan lets you finance both the purchase and renovation of a home in one loan, making it easier to turn a fixer-upper into your dream home.
Is FHA only for first-time buyers?
No. FHA loans are available to anyone who qualifies - whether it's your first home or your fifth. The program is open to repeat buyers as well.
What types of properties can I buy with an FHA loan?
FHA loans are primarily for single-family, owner-occupied homes, but they also cover 2-4 unit properties, condos (if FHA-approved), and manufactured homes that meet FHA standards.