{"id":111,"date":"2026-06-03T13:57:26","date_gmt":"2026-06-03T13:57:26","guid":{"rendered":"https:\/\/kennedymtg.com\/?page_id=111"},"modified":"2026-06-04T13:09:32","modified_gmt":"2026-06-04T13:09:32","slug":"fha-loans","status":"publish","type":"page","link":"https:\/\/kennedymtg.com\/staging\/8888\/residential\/fha-loans\/","title":{"rendered":"FHA Loans"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>One-line summary: Government-insured loans designed for borrowers who need lower down payments and more flexible credit qualifying than conventional financing requires, popular for first-time buyers and for borrowers rebuilding credit.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Best for<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">First-time homebuyers, borrowers with credit scores below conventional minimums, and buyers who don&#8217;t have a 20% down payment saved. Also useful for borrowers with higher debt-to-income ratios who don&#8217;t qualify for conventional financing at the same purchase price.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key terms (typical)<\/h3>\n\n\n\n<figure class=\"wp-block-table table-label-value\"><table><thead><tr><th>Attribute<\/th><th>Typical Range<\/th><\/tr><\/thead><tbody><tr><td>Eligible properties<\/td><td>1\u20134 unit primary residences<\/td><\/tr><tr><td>Down payment<\/td><td>As low as 3.5% with an established 580+ credit score<\/td><\/tr><tr><td>Credit score<\/td><td>580 minimum (some lenders 600+); below 580 may require 10% down<\/td><\/tr><tr><td>Loan limits<\/td><td>Vary by county, ranging from a floor of $541,287 up to a ceiling of $813,050 in major Texas metropolitan counties<\/td><\/tr><tr><td>Mortgage insurance<\/td><td>Upfront MIP (1.75% financed into the loan balance) plus annual MIP for the life of the loan on standard 30-year terms<\/td><\/tr><tr><td>Term<\/td><td>15 or 30 years fixed; some ARM options<\/td><\/tr><tr><td>Debt-to-income<\/td><td>Up to 50% or higher with compensating factors<\/td><\/tr><tr><td>Property condition<\/td><td>FHA appraisal requires the home meet minimum property standards<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Why borrowers choose this program<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Low down payment.<\/strong> 3.5% down means a $300,000 home can be bought with $10,500 down, substantially less than conventional&#8217;s typical 5\u201320%.<\/li>\n<li><strong>Flexible credit qualifying.<\/strong> FHA accepts credit scores down to 580 (sometimes lower with compensating factors), opening the door for borrowers who don&#8217;t fit conventional credit boxes.<\/li>\n<li><strong>Gift funds allowed.<\/strong> The entire down payment can come from gift funds from a family member, employer, or approved source.<\/li>\n<li><strong>Assumable.<\/strong> FHA loans can be assumed by a qualified buyer, useful if rates have risen by the time you sell.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Considerations<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Mortgage insurance is permanent on most loans.<\/strong> Unlike conventional PMI, FHA&#8217;s annual MIP typically stays for the life of the loan (or 11 years if you put 10%+ down). Many FHA borrowers refinance into conventional once they have 20% equity to drop the MIP.<\/li>\n<li><strong>Property must meet FHA standards.<\/strong> Homes with significant deferred maintenance, structural issues, or safety hazards won&#8217;t pass FHA appraisal. For fixer-uppers, the FHA 203(k) renovation loan exists for this exact reason.<\/li>\n<li><strong>Loan limits cap proceeds.<\/strong> FHA loan limits vary by county and are below conventional jumbo limits in many areas. For higher-priced homes, conventional or jumbo financing may be required.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>One-line summary: Government-insured loans designed for borrowers who need lower down payments and more flexible credit qualifying than conventional financing requires, popular for first-time buyers and for borrowers rebuilding credit. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":490,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"page-templates\/program.php","meta":{"nf_dc_page":"","footnotes":""},"class_list":["post-111","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FHA Loans - Kennedy Mortgage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kennedymtg.com\/staging\/8888\/residential\/fha-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FHA Loans - Kennedy Mortgage\" \/>\n<meta property=\"og:description\" content=\"One-line summary: Government-insured loans designed for borrowers who need lower down payments and more flexible credit qualifying than conventional financing requires, popular for first-time buyers and for borrowers rebuilding credit. 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