FHA-insured mortgages can provide a lower minimum down payment and flexible qualifying standards for eligible borrowers purchasing a primary residence. FHA loans are available to first-time and repeat buyers, subject to current credit, income, debt-to-income, appraisal, occupancy, property-condition, loan-limit, and underwriting requirements.

FHA LOAN DETAILS

The minimum required investment can be as low as 3.5% for borrowers who meet applicable FHA and lender requirements. FHA financing includes upfront and annual mortgage insurance premiums. Closing costs and prepaid expenses must be accounted for separately, although permitted seller credits, gifts, lender credits, or approved assistance may help in qualifying transactions.

FHA appraisals evaluate value and minimum property requirements. Condominiums, manufactured homes, multi-unit properties, renovation loans, and energy-efficient improvements are subject to additional rules. Loan limits are updated periodically and vary by county and number of units; confirm the current limit for Riverside County or San Bernardino County when applying.

FirstHome.us compares FHA financing with conventional, VA, CalHFA, and other available programs. Approval is not guaranteed and requires complete underwriting and an eligible property.

APA Mortgage is not affiliated with or acting on behalf of FHA, HUD, or the federal government.

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