FHA Loans

FHA loans are insured by the Federal Housing Administration and are popular with first-time buyers and borrowers who are rebuilding credit. They allow a low down payment and offer more flexible qualifying than many conventional loans.

Highlights of FHA loans

• Low down payment: as little as 3.5% down for qualified borrowers.
• Flexible credit: FHA guidelines can accommodate lower credit scores and past credit events after waiting periods (lender requirements also apply).
• Gift funds from eligible donors can help with the down payment.
• Higher debt-to-income ratios may be allowed with strong compensating factors.
• Assumable: FHA loans can be assumable by a qualified buyer, which can be valuable when you sell.

Mortgage insurance

FHA loans include an upfront mortgage insurance premium (which can be financed) and an annual premium paid monthly. On many FHA loans, monthly mortgage insurance lasts for the life of the loan unless you refinance. That's why many FHA borrowers later refinance into a conventional loan or, if they're eligible veterans, a VA loan, which has no monthly mortgage insurance.

FHA refinance options

If you already have an FHA loan, an FHA streamline refinance may reduce paperwork when it provides a net tangible benefit. FHA cash-out and rate-and-term refinances are also available. I'll compare FHA against conventional and VA so you see the full picture.

Is FHA right for you?

FHA can be a great fit for limited down payments or credit that's still recovering. With strong credit and 5% or more down, a conventional loan may cost less over time because of how mortgage insurance works. Veterans should almost always compare with VA first. Loan limits apply and vary by county; FHA limits vary by county, and I'll confirm the current figure for your area.

Independence Home Loans and Ryan Singer are not affiliated with or endorsed by HUD, FHA or any government agency.

Why work with Ryan Singer

I've been helping families finance homes since 2004, and I lend nationwide through Independence Home Loans (licensed in 46 states + DC). VA loans are the core of my business, but I work with every major program, so you get an honest comparison rather than a single product pitch. Expect plain-language explanations, written side-by-side options, and a loan officer who stays involved from application to closing. You can reach me directly at (602) 741-2370 or (480) 300-7769.

Frequently asked questions