FHA Loan
FHA Loan
Loan Program

FHA loans for your first door.

Government-backed financing with 3.5% down, credit scores from 580, and gift-friendly down payments — built for first-time buyers, credit rebuilders, and anyone the conventional box can’t fit.

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The Fundamentals

Government-backed, borrower-focused.

An FHA loan is a mortgage insured by the Federal Housing Administration — a division of the U.S. Department of Housing and Urban Development (HUD). The FHA doesn’t lend money directly. Instead, it insures loans made by approved private lenders, reducing their risk and allowing them to offer more flexible terms to borrowers who might not qualify for conventional financing.

FHA loans are the most popular mortgage program for first-time buyers, borrowers with lower credit scores, or those with limited savings for a down payment. All FHA loans carry mortgage insurance regardless of down payment — an upfront MIP of 1.75% (typically financed into the loan) plus an annual MIP around 0.55% divided into monthly payments. Unlike conventional PMI, FHA MIP remains for the life of the loan when down payment is under 10%.

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Program Options

Three paths through FHA financing.

Purchase, streamline, or cash out — each built for a different moment in the ownership journey.

Most Popular

FHA Purchase

3.5% down with 580+ credit score. Gift funds, grants, and DPA accepted for down payment. Up to 96.5% LTV.

Existing FHA Borrowers

FHA Streamline Refinance

FHA-to-FHA refi with minimal paperwork — usually no appraisal, limited income documentation. Reduced upfront MIP for qualifying loans.

Access Equity

FHA Cash-Out Refinance

Refinance your existing mortgage and pull cash from home equity. Up to 85% LTV on cash-out transactions. FHA appraisal required.

MIP rates are set by HUD and subject to change. Eligibility requirements vary by lender and loan scenario. All loans subject to credit, income, and underwriting approval — and lender program eligibility.
Why Lendmire

FHA done right, first time through.

FHA works best when your broker knows which wholesale lender has the most flexible program for your specific scenario. Credit rebuilders get different options than first-time buyers carrying student loans. Manufactured homes get treated differently than townhomes. DPA-paired loans need specific investor approval.

We work with multiple FHA-approved wholesale lenders to match you with the right product and rate for your situation. From first application to closing, we simplify what FHA makes complex — with clarity at every step, and without pretending your profile fits a box it doesn’t.

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Program Highlights

Government-backed financing, built for accessibility.

3.5% Down
Accessible for borrowers with 580+ credit. Gift funds, grants, and DPA programs welcome for the down payment.
Gift Funds Friendly
Down payment can come 100% from gift funds, grants, or down-payment assistance. Family help is fully welcome.
57% DTI Allowed
Debt-to-income up to 57% with compensating factors. More room for buyers carrying student loans or other debt.
No Prepayment Penalty
Pay ahead, pay off early, or refinance through the FHA Streamline whenever it makes financial sense.
Also Consider

Programs worth comparing.

FHA isn’t the only path. These alternatives work for different borrower profiles — and sometimes deliver better long-term economics.

Qualified Buyers

Conventional Loan

3% down options for first-time buyers with stronger credit. Lower long-term costs when PMI drops off at 78% LTV.

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Military & Veterans

VA Loan

Zero down, no PMI, and great rates for eligible veterans and active-duty service members. Full VA IRRRL refinance support.

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First-Time Help

Down Payment Assistance

Grant and loan programs that can cover your 3.5% FHA down payment — compatible with FHA and other first-time buyer programs.

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Learning Center

Know before you borrow.

FHA guides, qualification scenarios, and credit rebuild strategies from our licensed loan officers.

Take the Next Step

Tools to move from reading to action.

Tool One

FHA payment calculator

Run the numbers on an FHA purchase or refinance — including upfront MIP, monthly MIP, principal, interest, taxes, and insurance.

Calculate Tool Two

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See your offer in seconds. No credit pull, no obligation.

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Browse programs

See every loan program Lendmire offers — from FHA to conventional to DSCR — and find the right fit.

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Get Started

Check your FHA eligibility in seconds.

See your offer in seconds. No credit pull, no obligation.

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Available In 16 States

FHA loans, state by state.

FHA guidelines are national, and the markets are local. Explore the program parameters, the markets, and the scenarios for your state.