What is an FHA Loan?
Why Choose an FHA Loan?
An FHA loan is a great option if you want to put less money down, don’t have enough savings built up for a conventional loan requirement of 20% down, or have a lower credit score. It’s important to note that while FHA loans require borrowers to pay for mortgage insurance (since they’re government-backed), they serve to provide homeownership opportunities for many home buyers who don't qualify for conventional financing!
FHA Loans Make Homeownership Achievable:
- Low down payment requirement (as low as 3.5%)
- Flexibility on debt-to-income ratio
- Qualify with less-than-perfect credit
- Down payment funds from family/friends allowed
- Purchase or refinance loan options available
Apply for an FHA Loan Today!
Apply for an FHA Loan Today!
How to qualify for an FHA loan:
Some requirements for an FHA loan are:
- Credit score that meets the lender’s minimum requirement
- A solid payment history
- No derogatory credit event in the last 2-3 years
- A debt-to-income ratio of 43% or less
- Steady income
- Proof of employment history
Find out what you can afford
Try our suite of calculators and tools to get a better understanding of how your finances impact your options.
More about FHA loans.
Or browse our complete library of resources
How to Buy a House with No Money
The two types of loans that allow you to buy a home with no money down are USDA Loans and VA Loans. Both require specific criteria that you need to qualify.
How Much Money Do You Really Need to Save to Buy a House?
We've highlighted some key points to help you avoid surprises and set realistic expectations during your homebuying experience.
Down Payment on a House
Putting down money on a house can be overwhelming. Every home loan option has different requirements. Learn about your options with Newrez today!
Explore different types of loans.
See all of our financing productsFixed Rate Loans
Lock in a low rate and payment that stays the same, no matter how much else may change over time.
VA Loans
VA Loans are guaranteed by the U.S. Department of Veterans Affairs, which means we’re able to offer more favorable loan terms to military home buyers.
Adjustable Rate Loans
Boost your buying power with low rates and flexible terms.
Niche & Specialty Loans
Get competitively priced mortgages tailor-made for investment properties.
Why Newrez?
Newrez believes the lending business shouldn't just be about home loans - it should be about homeowners. That's why our employees get to know our customer's real needs, through final closing, and beyond.
- Industry leading loan options
- Simple pre-qualifications and application processes
- Loans for everyone, from seasoned investors to first-time buyers
- Putting power back into underserved communities
