FHA Mortgage Loan

Compare FHA mortgage options from top lenders — fast, free, and personalized to you.

✅ Why Choose an FHA Loan

FHA loans offer a flexible path to homeownership — especially for buyers with modest savings or less-than-perfect credit. Backed by the Federal Housing Administration, these loans reduce barriers with low down payments and streamlined qualification.

With MyPerfectMortgage.com, you can:

• Get matched with FHA-approved lenders in minutes
• Access low down payment options (as little as 3.5%)
• Qualify with credit scores as low as 580
• Use gift funds or down payment assistance programs
• Compare offers with no credit impact and no pressure

📋 What You’ll Need to Qualify

While each lender sets their own terms, here’s what most FHA lenders require:

• 580+ credit score (higher may improve rates)
• Down payment of at least 3.5% (can come from gift funds)
• Stable income and proof of employment
• Property must meet FHA guidelines and pass appraisal
• Debt-to-income ratio typically under 43%

👤 Who FHA Loans Are Perfect For

FHA loans are ideal for:

• First-time buyers who need a lower entry point
• Buyers with limited cash for a down payment
• Borrowers with steady income but modest credit histories
• Anyone looking for predictable, fixed-rate mortgage options
• Homebuyers using gifted funds or DPA programs

Not a fit for investors or those purchasing second homes — FHA is strictly for primary residences.

📊 How FHA Loans Work

FHA loans are designed for primary residence purchases and offer government-backed security for lenders — which means more flexibility for you. Here’s how they typically work:

• Loan Amount: Up to the county-specific FHA limit
• Down Payment: Minimum 3.5% (can be gifted)
• Credit Score: 580+ recommended (some allow lower with higher down)
• DTI Ratio: Typically ≤ 43%, though lender overlays vary
• Mortgage Insurance: Upfront (UFMIP) + annual MIP required
• Appraisal: Property must meet FHA safety and habitability standards

Once pre-qualified, lenders verify your income, assets, and credit. From there, you can move to a full approval and close in as little as 30 days.

Common Questions about FHA Mortgage Loans