What it is
FHA loans are insured by the Federal Housing Administration. They are a popular option for first-time homebuyers in California because of lower down payment options and more flexible credit guidelines.
Who it may suit
First-time buyers, buyers with less-than-perfect credit, and buyers receiving gift funds from family.
Potential advantages
- Low down payment options
- Flexible credit guidelines
- Gift funds from family members may be permitted
Important considerations
- Mortgage insurance premium (MIP) is generally required
- Property and loan limits apply
General eligibility factors
- Credit history
- Down payment source
- Primary residence use
- Current FHA program guidelines — ask Matthew for details
Program guidelines and limits change. Contact Matthew for current requirements — this page is general information, not a commitment to lend.