FHA

We accept FHA credit scores as low as 500, with overlays for scores below 580. Manufactured homes carry higher minimums (640 single-wide, 620 double-wide). In practice, scores in the low-to-mid 600s and up get the smoothest approvals — but we routinely close FHA loans for borrowers other lenders turn away, often via manual underwriting with compensating factors.

At least 2 years must have elapsed from the bankruptcy discharge date (not the filing date) to the FHA case-number assignment, with re-established credit. FHA's extenuating-circumstances provisions can sometimes shorten this through manual underwriting; we'll review your timeline and what counts.

FHA can approve you while you're still in a Chapter 13 plan: at least 12 months of the payout period must have elapsed at case-number assignment, with on-time plan payments and the trustee or court's written permission to take on a new mortgage. After discharge, there's no required FHA waiting period — though the bankruptcy will show on credit until it ages off.

At least 3 years from the transfer of ownership for a foreclosure (or a short sale where the borrower was not current). For a short sale where the borrower was current — all mortgage and installment payments made within the month due for the 12 months prior — the 3-year seasoning can be waived. Extenuating-circumstances exceptions are sometimes available through manual underwriting.

Automated underwriting (FHA TOTAL Scorecard, via DU or LPA) gives a quick approve/eligible or refer. A "refer" doesn't mean denied — it routes to a human underwriter who evaluates compensating factors (reserves, residual income, stable employment, low payment shock). Many lenders only fund AUS approvals; we underwrite manual files too, which is often the difference between a yes and a no.

Yes. We work with approved DPA programs that pair with FHA — typically a second mortgage or grant that covers some or all of your 3.5% down. The DPA must be on our approved list, and CLTV depends on the source (no CLTV cap when the second comes from a government entity; family-member secondary financing up to 100% CLTV; other approved sources up to 96.5%). We'll match you to a program that fits your state, income, and goals.

Yes — both upfront and annual. Upfront MIP is currently 1.75% of the loan (usually financed). Annual MIP is included in your monthly payment. With less than 10% down, FHA's annual MIP technically runs for the life of the loan — but in practice few people actually keep a mortgage that long. Most refinance or sell within several years, and once you've built enough equity you can refinance into a conventional loan to drop MIP entirely. With 10%+ down, FHA MIP can drop off after 11 years on its own. We'll compare side-by-side with conventional + monthly PMI so you can see the true cost for your situation.

Yes. FHA sets a maximum loan amount for every county based on local home prices, with a national floor (lower-cost areas) and a national ceiling (high-cost areas). Limits change each year. You can look up your county directly at HUD's tool (entp.hud.gov/idapp/html/hicostlook.cfm) — and we're building a county lookup right here on the site so you don't have to leave. Until then, tell us your county and we'll pull the current limit and what it means for your purchase.

If your current loan is already FHA, the Streamline is the simplest way to lower your payment when rates drop — no appraisal, no income verification, no new automated underwriting, just a clean recent mortgage history. To qualify you generally need 6 monthly payments made on the existing loan, at least 210 days since closing, and on-time payments for the last 6 months (with no more than one 30-day late in months 7–12). If we already service your loan, the credit-score minimums do not apply. Cash back is limited to incidentals.

Yes — outside of Texas. FHA cash-out lets you tap your home's equity up to 80% LTV on a primary residence. Texas has its own Home Equity rules under the state constitution, and we don't currently offer FHA cash-out there. If you're a Texas homeowner looking to pull cash out, reach out — we can walk through your other options.

1–4 unit properties, owner-occupied as your primary residence. Site-built, modular, and manufactured homes are all eligible (single-wide manufactured requires manual underwriting and a 640+ score). FHA is purchase, refinance, cash-out (outside Texas), and streamline — not for second homes or pure investment.

Yes — and this is something very few lenders offer. We do FHA One-Time Close construction, and we can pair it with down payment assistance that covers your FHA down payment, so qualified buyers can build a brand-new home with little to no money out of pocket. Land, the build, and your permanent FHA mortgage all close in a single loan. See our FHA Construction page for the full details. For renovating an existing home, FHA 203(k) and our other renovation paths are on the Renovation page.