CONTACT US ANYTIME

FHA Loans

Designed to help make homeownership more accessible for everyone

Learn the Basics

What is a FHA Loan?

Facing a smaller down payment or credit hurdles? FHA loans are perfect for first-time buyers. Unlike conventional loans that require a big down payment (usually 20%) and a good credit score (620+), FHA loans only require as little as 3.5% down, can take credit scores as low as 580, and have different loan options such as fixed and adjustable interest rates.

How Do FHA Loans Work?

  1. You find an FHA-approved lender (such as Eureka Mortgage Planning).
  2. You apply for the loan and provide documentation of your income and credit history.
  3. Once approved, you’ll put down your desired down payment on the house (remember it can be as low as 3.5%).
  4. You’ll also pay for mortgage insurance, which protects the lender in case you can’t make your payments.
  5. You close on the house and become a homeowner!

Unique Benefits

Benefits of FHA Loans

Down Payment
Requirements

Put as little as 3.5% down and even get down payment assistance.

Get your loan today

Credit
Score

FHA loan borrowers can have a credit score as low as 580 to qualify.

Have a unique situation?

Fixed &
ARM Loans

Pick the option that works best for your budget and risk tolerance

Learn more

Debt-To-Income
Ratio

Get more lenient debt-to-income (DTI) terms with FHA loans

Read more

Qualifications

Do you Qualify for a FHA Loan?

While FHA loans are open to many, they’re more beneficial for borrowers who are:

  • Lower credit scores
  • Low-to moderate-income individuals
  • Looking to make a lower down payment or need assistance
Find out if you qualify

Get Your FHA Loan now!

Contact us