3.5% down. Credit scores from 580. Gift funds allowed. Stackable with down payment assistance. The FHA loan exists to put homeownership within reach — and paired with the right assistance program, your out-of-pocket can approach zero.
Free · No hard credit pull · Response in 2 hours
With a 580+ credit score. Scores 500–579 can qualify with 10% down.
Far more forgiving than conventional. We've closed FHA loans in the high 500s.
Your entire down payment can be a gift from family — with a simple gift letter.
Sellers can contribute up to 6% toward your closing costs — negotiable in today's market.
FHA loans are insured by the Federal Housing Administration — which is why lenders can say yes to buyers that conventional guidelines turn away. Lower credit scores, higher debt-to-income ratios, smaller down payments: FHA absorbs the risk so lenders can approve real people with real finances.
The trade-off is mortgage insurance — an upfront premium (financed into the loan, so it's not out of pocket) and a monthly premium. That's the honest cost of the flexibility. The smart play many of our clients run: buy now with FHA, build equity, then refinance into conventional once you hit 20% equity and drop the mortgage insurance entirely.
And here's the part most lenders never bring up: FHA is the most DPA-compatible loan in existence. Programs like the Manatee County $15,000 program are built to pair with FHA — covering most or all of your down payment and closing costs. Run your payment scenarios on our calculator's FHA tab to see real numbers with MIP included.
*Which is why we track your equity and proactively flag when a conventional refi would drop your insurance. Premiums set by HUD and subject to change; your exact figures come with your pre-approval.
This combination is the most underused path to homeownership in Florida. Here's the math for a Manatee County buyer.
Neither is "better" — they fit different buyers. Here's the straight comparison.
Scores from 580 qualify with 3.5% down. Past bankruptcy or foreclosure? FHA's waiting periods are the shortest: generally 2 years post-Chapter 7, 3 years post-foreclosure.
Between 3.5% down, 100% gift funds, 6% seller credits, and DPA stacking, we've built FHA closings where the buyer brought almost nothing to the table.
Student loans, car payments, real life — FHA allows meaningfully higher debt-to-income ratios than conventional, especially with strong compensating factors.
Tell us your situation — credit, savings, timeline — and we'll show you exactly what FHA (plus any assistance you qualify for) can do. 2-hour response, no hard credit pull, no pressure.