FHA loans — low down payment, flexible credit.

An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It allows buyers to purchase a home with a down payment as low as 3.5% and more flexible credit requirements than conventional loans.

Most FHA lenders require a minimum credit score of 580 to qualify for the 3.5% down payment option. Borrowers with scores between 500–579 may still qualify with 10% down, though fewer lenders offer this.

FHA loan limits vary by county. In most Colorado counties, the 2026 FHA limit is $541,287 for single-family homes. High-cost counties like Denver, Boulder, and Eagle go up to $1,149,825. Florida limits range from $541,287 to $1,149,825 depending on the county.

No — FHA loans are strictly for primary residences. However, you can use an FHA loan to buy a multi-family property (up to 4 units) as long as you live in one of the units.

FHA loans have lower down payment requirements and more forgiving credit standards, but they require mortgage insurance premiums (MIP) for the life of the loan in most cases. Conventional loans typically require 3–5% down, but PMI can be removed once you reach 20% equity.

Most FHA loans close in 30–45 days, similar to conventional loans. The timeline depends on how quickly you can provide documentation, the lender's workload, and any property condition issues flagged during the FHA appraisal.

Yes. FHA Streamline Refinance allows you to lower your rate with minimal paperwork if you already have an FHA loan. You can also refinance from FHA to conventional to eliminate mortgage insurance once you have enough equity.