FHA, the loan for everyone!
3.5% Down Payments
For First Time Buyers
Less money down, flexible credit requirements, and a high debt-to-income limit mean home buyers everywhere choose FHA loans. It's your chance at the American Dream.
Apply
Apply
The gateway to homeownership
FHA loans accept a wide range of qualifications
Min. Credit Scores of 580+ and Max. DTI of 57%
Low Down Payment
Buy with just 3.5% down, and use up to 6% in seller credits
Better Rates for Everyone
Enjoy affordable interest rates and standard mortgage insurance premiums of 0.55%
FHA Guidelines
If your details are close to these guidelines, please apply here. If you don’t qualify we may have other solutions for you.
Credit Score
FHA loans require a min. credit score of 580 with 3.5% down or 500+ with a down payment of 10%
2-4 Unit Multifamily Properties
For House Hackers
It's not a get-rich-quick scheme but the age-old way to own a home and become a landlord simultaneously. Real-estate empires are built one multi-family unit at a time.
Lower rates for longer
For Loan Assumption!
As a homebuyer, you can take over (or "assume") a seller’s existing FHA loan—including its interest rate and mortgage balance. Approval uses standard FHA guidelines and must go through the existing loan servicer and HUD
Lower your rate, without the headache
For Streamlined Refinancing
Streamlines are the fastest, cheapest, and easiest way to lower your monthly payment. FHA credit-qualifying streamlines do not require income re-verification or an appraisal.
How It Works
Get Pre-Approved
Submit a 6 part 1003 application and upload your documents to verify your income, asset, and employment. We'll pull credit you'll be ready to buy before the weekend.
Shop for the "One"
Find your dream home and make sure to consider extrinsic factors like schools, property tax rates, and plans for neighbourhood development.
Get Under Contract
Cover upfront and monthly MIP costs.
Close in 15 days
FHA backing adds security and makes approval easier.
Do's and Don’ts
Do
Maintain a Steady Job
Lenders prefer borrowers with stable employment for at least two years.
Save for a Down Payment
Aim for at least 3.5% to qualify for the loan.
Check Your Credit
Ensure your credit score meets the minimum requirements for better rates.
Don't
Don’t Make Large Purchases
Avoid buying big-ticket items before or during the loan process.
Don’t Apply for New Credit
Opening new credit accounts could affect your approval.
Don’t Miss Payments
Keep up with existing debt payments to maintain a good financial standing.
Is FHA right for me?
Compare FHA vs Affordable Conventional Programs like HomePossible & One+
FHA
Home Possible
One+
Down Payment
3.5%
3%
1%
Credit Score Min
580
660+
620+
Income Limit
No Max
80% of AMI
80% of AMI
Loan Limit
$524,255
$806,500
$350,000
DTI Limit (Housing/Total)
47/57
50/50
50/50
Need Help?
Everything you need, in one place!
Every home has a story
Seamless Loan Process for a Traveling Nurse
Sukesh was exceptionally knowledgeable and kept me informed throughout the process. My situation was complex with travel nursing income, pay structure and multiple contract. I was would definitely recommend Altgage services to anyone looking for smooth loan process. Closing happened right in time with no delays. I am thankful that God connected me to Sukesh and the team.
5-Star Review
Jeffrey’s Homeownership Dream Achieved
We recently had the pleasure of working with Sukesh to secure a home loan for our family, and we couldn't be happier with the experience. From start to finish, Sukesh provided exceptional service, guiding us through the entire process with expertise and genuine care.
Sukesh took the time to understand our unique financial situation and home buying needs. He was incredibly patient, answering all our questions and explaining the details of the loan options available to us. We never felt rushed or pressured, which made a huge difference in our stress levels during this significant life event.
What stood out the most was Sukesh's dedication to finding the best possible loan terms for us. He worked tirelessly to ensure we got a competitive interest rate and favorable conditions, ultimately saving us money and providing peace of mind.
Communication was excellent throughout the process. Sukesh was always available via phone or email, keeping us updated on the progress and promptly addressing any concerns we had. His professionalism and commitment to customer satisfaction were evident every step of the way.
Thanks to Sukesh, we are now settled into our new home and couldn’t be more grateful for his help. We highly recommend Sukesh to anyone in need of a mortgage broker. He truly go above and beyond to ensure their clients achieve their homeownership dreams.
Thank you, Sukesh!
5-Star Review
Terry Got His Dream Home with a Better Credit Score and a Great Mortgage Deal
I recently purchased a house and had the pleasure of working with Sukesh as my lender. From the beginning, Sukesh stood out with his exceptional availability and commitment. He was always open to talk, day or night, which made a significant difference in my home buying journey.
As someone with a less than ideal credit score, I was particularly appreciative of Sukesh's expertise in financial matters. He not only gave me valuable advice on how to improve my credit score but actively assisted in enhancing it by 25 points during the process. This improvement was crucial in securing a favorable mortgage deal.
Moreover, Sukesh's skillful negotiation and knowledgeable guidance were instrumental in covering the closing costs and securing an attractive buy down rate for my mortgage. His dedication and expertise in the field were evident in every step of the process.
I am deeply grateful for Sukesh's support and highly recommend his services to anyone looking for a reliable and proficient mortgage lender. Thank you, Sukesh, for making my dream of homeownership a reality!
5-Star Review
Chanelle Got the Best Mortgage Option with a Stress-Free Process
I would highly recommend Sukesh for your future home buying endeavors. Sukesh displayed his knowledge, patience, and compassion throughout my home buying process. I am honestly so thankful for him and his work ethic. It is so hard to find people like Sukesh in this society. However, it was clear from day one, that Sukesh possessed vast understanding regarding the home buying process. As a health care professional, Sukesh was able to explain all aspects of the process of home buying. Due the fact, this is not my normal area of expertise. Again, what are you waiting for, exactly? I would highly recommend Sukesh for your next home purchase or refinance.
5-Star Review
Recent Articles
Learn everything you need to know as a first-time homebuyer
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FAQs
You’ve got questions, we’ve got answers
Unlike conventional loans, FHA loans are backed by the government, which allows for lower credit score requirements and a smaller down payment. They’re ideal for first-time buyers or those with past credit challenges.
Yes! FHA loan limits vary by location and are updated annually to reflect market conditions. The exact amount depends on where you're buying, ensuring affordability based on local home prices.
Yes! FHA loans are designed for borrowers with lower credit scores. While conventional loans typically require higher credit scores, FHA loans allow borrowers with scores as low as 500 to qualify.
No, FHA loans are designed only for primary residences. To qualify, you must live in the home as your main residence for at least one year. These loans are meant to help buyers secure affordable housing, not for purchasing vacation homes or investment properties.
