Government-backed
FHA loans: a flexible path to homeownership.
FHA loans are insured by the Federal Housing Administration. They are popular with first-time buyers and borrowers who are still building credit because of their lower down payment and more flexible credit guidelines.
Talk with HieuMay be a good fit if…
- You have a smaller down payment saved.
- Your credit history is still being built or repaired.
- You plan to live in the home as your primary residence.
What to know
3.5% minimum down payment
Borrowers with a credit score of 580 or higher may put down as little as 3.5%. Scores from 500–579 generally require 10% down.
Mortgage insurance
FHA loans include an upfront mortgage insurance premium and an annual premium paid monthly. How long it lasts depends on your down payment.
County loan limits
FHA sets maximum loan amounts by county each year, and limits are higher in high-cost areas such as much of Orange County.
Questions worth asking
- How does FHA mortgage insurance compare with conventional PMI for me?
- What is the FHA loan limit in the county where I am buying?
- Could I refinance out of FHA later?
Frequently asked questions
What credit score do I need for an FHA loan?
FHA guidelines allow 3.5% down with a credit score of 580 or higher, and 10% down for scores between 500 and 579. Individual lenders may set higher minimums.
Can I use an FHA loan for an investment property?
No. FHA loans are for primary residences. A 2–4 unit property can qualify if you live in one of the units.
Can gift funds be used for the down payment?
Yes, FHA allows down payment gifts from eligible donors such as family members, with proper documentation.
Related reading
Want advice for your situation?
Hieu Nguyen, Senior Mortgage Loan Originator, Century Financial Group Co.. Loans are offered only in states where Hieu Nguyen and Century Financial Group are licensed — see NMLS Consumer Access. Not a commitment to lend; all loans are subject to credit and underwriting approval. Contact: (714) 409-9272.