First-time homebuyers who have challenges with their credit or saving for a down payment have options when it comes to home loans. A Federal Housing Administration (FHA) loan requires lower credit scores and down payments compared to many conventional loans.
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FHA loans are offered in 30-year terms with fixed interest rates. These government issued loans are designed to help borrowers who have credit, income and down payment challenges.
Down payments as low as 3.5%
Lower credit scores of 580 and above accepted
30-year fixed terms available
Loans for single family FHA loans
Become a homeowner sooner and stop renting
FHA Mortgage Insurance is required on the loan
Rates subject to change. APY= Annual Percentage Yield. APR= Annual Percentage Rate.
30 day lock Purchase. Click product for rates, terms & conditions.
Rates as of 4/25/2024, 10:00 AM PT
Please note that rates and fees are subject to change without notice.
FHA 30-year Fixed Purchase require a minimum credit score of 580. Based on a loan to value of 80% and loan amount of $400,000, the effective interest rate as of April 25, 2024 is 7.475%, with an Annual Percentage Rate (APR) of 8.170%, includes Mortgage Insurance Premium. Monthly payment is $2,790.01 for months 1-359 and $2,794.69 for month 360. Monthly payment disclosed is principal & interest and does not include taxes and insurance. Federal Housing Administration (FHA) loans require taxes and insurance to be impounded per month. FHA maximum mortgage loan limit based on loan limits for specified Metropolitan Statistical Area as defined by U.S. Department of Housing and Urban Development (HUD). FHA insured loans are backed by the United States government. For owner-occupied CA primary residence properties only. Certain membership eligibility requirements apply. Equal Housing Opportunity. NMLS #643926