What Is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration, designed to help more people become homeowners. FHA loans are widely used by first-time buyers and others who may not qualify for conventional financing due to credit history or limited savings.

Who FHA Loans Are For

• First-time homebuyers

• Buyers with less-than-perfect credit

• Those with limited funds for a down payment

• Borrowers purchasing a primary residence

Key Benefits

• Flexible credit guidelines

• No prepayment penalties

• Available for purchase, refinance, and streamline transactions

• Homes must meet FHA minimum property standards

FHA LTV Guidelines

• Up to 96.5% LTV for primary home purchases

• Up to 97.75% LTV for FHA rate-and-term refinances

• Up to 85% LTV for FHA cash-out refinances

• Streamline refinance options available (no appraisal required in some cases)

Loan-to-value limits vary by scenario. All loans subject to credit, income, and underwriting approval.

Why Lendmire?

Lendmire helps make FHA loans simple. Our team guides you through every step, matching you with lenders who understand your needs — whether you’re buying your first home or refinancing an existing FHA loan.

Compliance Notice

Lendmire complies with all federal and state lending regulations. Terms and availability are subject to change. A Loan Estimate (LE) will be provided after a completed application and documentation.