FHA Standard Loan Program

FHA loan is government-backed mortgage designed to help low- to moderate-income borrowers achieve homeownership. With a less stringent credit score and down payment requirements than traditional loans, FHA Standard Loan is ideal for first-time homebuyers.

Program features

Loan amounts up to $524,225*
DTI as per AUS
LTV up to 97.75%
Min. FICO 640
MIP is required

Why choose our FHA Standard?

Great for the first-time homebuyers
Min. down payment 2.25%
Less than average credit score requirements

Program details

Loan amounts up to $524,225
DTI as per AUS
LTV up to 97.75%
A maximum LTV of 80% for cash-out refinances
Owner occupied only
Income history of at least two years through employment verification
Min 1 month of reserves for 1- or 2-unit properties and 3 months of reserves for 3- or 4-unit properties required
Gift funds are allowed
MIP upfront and monthly insurance throughout the life of the loan (or 11 years with a 10% or more down payment) is required
Mortgage history: At least 2 years out of credit events
Eligible property types: SFR, 2-4 units, PUDs, condo, modular homes
Eligible terms: Fixed rates for 30-, 20- or 15-year terms are available
Eligible citizenship: US citizens, Permanent Resident aliens, with proof of lawful permanent residence, Non-Permanent Resident alien immigrants, with proof of lawful residence
Eligible borrowers: Individuals, living trusts