Top Reasons to Buy with Us
Loans built for today’s buyers.
With customizable options and expert support, our home purchase loans are designed to make buying your next home easier, faster, and more affordable.
Flexible Loan Options
Choose from a wide variety of loan types to fit your financial situation and goals.
Fast Pre-Approvals
Get pre-approved quickly so you can shop with confidence and make strong offers.
Competitive Rates
Secure great rates that help keep your monthly payments manageable.
End-to-End Support
Our experienced team walks you through the process every step of the way.
FHA Loan Eligibility Guidelines
FHA loans are available to a wide range of borrowers—including DACA recipients—who meet the following eligibility criteria:
Steady Employment and Verifiable IncomeApplicants must demonstrate a consistent employment history and reliable income.
Minimum Credit ScoreA credit score of at least 580 is required to qualify for a 3.5% down payment.
Debt-to-Income Ratio (DTI)Applicants should maintain a DTI of 45% or less (see explanation below).
Primary Residence RequirementThe property must serve as the borrower’s primary residence and meet all HUD property standards.
Bankruptcy or Foreclosure HistoryA waiting period of up to two years after a bankruptcy or three years after a foreclosure may apply.
Credit Score Requirements
One of the key advantages of FHA financing is its flexible credit standards. While most conventional loans require a minimum credit score of 620, FHA loans are accessible to borrowers with lower scores.
Improving your credit score before applying is strongly recommended. A higher score can lower your interest rate and reduce your required down payment. You can request a free copy of your credit report (excluding your score) at annualcreditreport.com.
Down Payment Requirements
If your FICO® score is 580 or higher, you may qualify for a down payment as low as 3.5% of the purchase price. FHA loans also allow the full down payment to be gifted from eligible sources, offering greater flexibility for homebuyers.
Debt-to-Income (DTI) Requirements
Your DTI ratio is an important indicator of your financial health. It is calculated by dividing your total monthly debt obligations (such as student loans, credit cards, and car payments) by your gross monthly income.
Example:If your monthly debt totals $2,300 and your gross income is $6,000, your DTI would be approximately 38%.
FHA guidelines typically require a DTI of 45% or lower for loan approval. A lower DTI improves your chances of qualifying and may lead to more favorable loan terms.
FHA Mortgage Insurance Premium (MIP)
All FHA loans require mortgage insurance, which protects lenders against default. The MIP consists of:
Upfront Premium: 1.75% of the loan amount, due at closing (this may be financed into the loan).
Annual Premium: Ranges from 0.45% to 1.05% of the loan amount, depending on the loan term and amount, and is paid monthly.
Please note: FHA mortgage insurance cannot be canceled, regardless of your equity position.
Eligible Property Types
FHA loans must be used to finance a primary residence. Eligible property types include:
Single-family homes
Two- to four-unit multifamily properties
FHA-approved condominiums
Certain manufactured homes
All properties must undergo an FHA appraisal and meet local FHA loan limits.
FHA Loans
Testimonials
Emily
Austin
Tory made buying my first home feel easy and stress-free. I couldn’t have asked for better support.
Carlos
San Antonio
Tory got me pre-approved fast and helped me close ahead of schedule. Highly recommend!
Jasmine
Plano
From day one to closing, Tory was always one step ahead. A total pro!
Brian
Lubbock
Buying a house felt overwhelming until I called Tory. He made it make sense.
Melissa
Round Rock
Super helpful and responsive! Tory truly looks out for his clients.
First-Time Homebuyer Checklist
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Mortgage Tips, Tools & Insights
Clear guidance for smart decisions.
Get expert advice on home buying, refinancing, and loan options. Our blog makes mortgage topics easy to understand so you can move forward with confidence.