FHA Loan Programs
Down Payment Assistance (DPA)
- Minimum credit score: 600
- No first-time homebuyer requirement – open to all buyers
- Get 5% of the purchase price for down payment assistance
- Manufactured and modular homes eligible
FHA 203(b) – Standard FHA Loan
- Minimum credit score: 580 (3.5% down payment)
- Lower credit scores (500-579) may qualify with 10% down
- Gifted down payments allowed (from family, employer, or charity)
- Sellers can cover up to 6% of closing costs
- Ideal for first-time buyers and those with lower credit
FHA 203(k) – Renovation Loan
- Combines home purchase & renovation into one loan
- Minimum credit score: 580 (3.5% down, based on total loan including repairs)
- Covers small and major home improvements, including:
- Roof, flooring, plumbing, HVAC, and electrical upgrades
- Kitchen & bathroom remodeling
- Energy-efficient windows & appliances
- Structural repairs & room additions (Standard 203(k) only)
These FHA programs offer flexible credit requirements, low down payment options, and financial support for home renovations. Contact us to see which loan fits your needs!