FHA Home
Loans
Helpful mortgage information from Alpha Mortgage, our trusted home financing partner.
What Is an FHA Loan?
An FHA Loan is a government-backed mortgage designed to make buying a home more accessible for first-time buyers, growing families, and anyone who needs a little more flexibility than a conventional loan can offer.
Down Payment Requirements:
One of the key advantages of FHA financing is the low down payment requirement:
- As little as 3.5% down with a credit score of 580 or higher.
- 10% down for borrowers with scores between 500–579.
- Gift funds from family or down payment assistance programs may be used to help cover your costs.
This makes an FHA Loan an excellent option for buyers who don’t have significant savings but want to purchase a home sooner rather than later.
Types of Properties You Can Finance
FHA Loans are primarily designed to help you purchase a primary residence. That means:
- Single-family homes, condos, and townhomes are all eligible.
- Multi-family properties (2–4 units) may qualify—as long as you occupy one of the units as your primary residence.
- Second homes and investment properties are not eligible under the FHA program.
If you’re looking to finance a second home or an investment property, Alpha Mortgage can also show you other great options like Conventional Loans.
Benefits of an FHA Loan
- Low down payment requirements
- Flexible credit standards compared to conventional loans
- Higher debt-to-income ratios allowed, giving you more purchasing power
- Gift funds accepted for down payment or closing costs
- Assumable loans – a future buyer may be able to take over your FHA loan at your same low interest rate, a powerful selling feature
Flexibility of FHA Financing
FHA Loans are especially popular for:
- First-time buyers who need a smaller down payment.
- Borrowers with less-than-perfect credit who still want competitive interest rates.
- Buyers who need higher debt-to-income allowances due to student loans, car loans, or other obligations.
Because FHA underwriting is more flexible, it opens the door to homeownership for thousands of families every year.
Why Choose Alpha Mortgage for Your FHA Loan?
At Alpha Mortgage, we take pride in guiding buyers through the FHA loan process with care and expertise:
- Experience that counts – Our loan officers are highly trained in FHA guidelines.
- Personalized solutions – We’ll help you compare FHA to other loan options so you make the best choice.
- Smooth process – We understand the FHA system and work hard to get you approved quickly.
- Commitment to homeownership – We believe FHA financing is not just a loan, but a stepping stone to financial stability and long-term wealth building.
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