FHA Loans
Affordable, Flexible Financing Backed by Experience
At Choice Mortgage Group, we understand that every homebuying journey is unique—and sometimes, getting started means finding the right mortgage that works with where you are today. FHA loans offer a more flexible path to homeownership, especially for first-time buyers or those rebuilding credit.
Insured by the Federal Housing Administration, FHA loans are designed to make home financing more accessible by offering easier qualifying guidelines, lower down payment options, and competitive rates. With the right guidance—and a lender who understands your goals—you can get more than a mortgage. You can get home.
Why Choose
an FHA Loan?
FHA loans offer real solutions for homebuyers who may not meet the stricter requirements of conventional financing. Whether you’re buying your first home, refinancing, renovating, or even building from the ground up, FHA programs can support your goals.
Key Benefits
- Low down payment starting at just 3.5%
- More flexible credit score requirements
- Higher debt-to-income (DTI) ratio allowances
- Government-backed for added security
- Competitive fixed or adjustable interest rate options
- Gift funds allowed toward your down payment and closing costs
- Seller can contribute up to 6% toward closing costs
FHA Loan Options
Home Purchase
FHA purchase loans are ideal for first-time buyers or those with limited savings or lower credit scores. The relaxed qualification criteria help more families achieve the dream of homeownership.
FHA Refinance
Already own a home? Refinance with an FHA loan to lower your rate, reduce your monthly payment, or access cash for renovations or life expenses.
FHA 203(k) Renovation Loans
Buy and renovate a home—all in one loan. FHA 203(k) loans are perfect for purchasing fixer-uppers or making updates to your existing home with built-in financing for approved repairs and upgrades.
FHA Construction Loans
Building your dream home? FHA construction loans can finance your build and transition into a permanent mortgage once construction is complete.
FHA + Down Payment Assistance (DPA)
We believe cost shouldn’t be a barrier to homeownership. That’s why we pair FHA loans with down payment assistance programs that can help cover your upfront costs. These national programs offer 3.5% or 5% assistance for those who qualify—some even offer zero-down options.
With flexible guidelines and competitive interest rates, our team can help you explore DPA solutions that make sense for your financial goals.
Who Can Benefit
from an FHA Loan?
FHA loans may be a great fit for:
- Buyers with limited or lower credit scores
- Clients with higher DTI ratios who may not qualify for conventional loans
- Borrowers interested in buying multifamily homes (as long as they live in one of the units)
- Homebuyers looking to combine their loan with down payment assistance
FHA Loan Program Details
- Minimum 3.5% down payment required*
- Upfront Mortgage Insurance Premium (MIP) may be financed into the loan
- Monthly MIP required for most FHA loans
- No income limits
- Spot approvals available for eligible condominiums
- Seller concessions up to 6% of the sales price
- Gift funds accepted
- FHA loan limits (2024): $524,225 – $1,814,625 depending on your location
Want to know your area’s FHA limit? HUD provides an online tool to help you check by county or state.
Let’s Simplify Your Path to Homeownership
At Choice Mortgage Group, we believe in empathy in every mortgage—because we’re homeowners too. Our team is committed to delivering outstanding service that exceeds expectations and tailoring solutions to your unique situation.
We’ve helped thousands of families turn their dream of homeownership into a reality with FHA financing. Let’s see what’s possible for you.