Need A Great Loan With Friendly Terms?

An FHA mortgage loan May Be Right For you. Don’t let the fear of a large down payment or less than perfect credit ruin your dream of homeownership. With friendly terms and low rates, FHA may be what you are looking for.



Need To Qualify For A Home Mortgage But Don't Have A Large Down Payment Or Even Perfect Credit? Try FHA.

Find out if you are FHA approved and one of our experienced loan officers will walk you through the entire process.

An FHA loan is a government-backed mortgage insured by the Federal Housing Administration or FHA. Popular with first-time homebuyers, FHA home loans require lower minimum credit scores and down payments than many conventional loans.

Because FHA home loans are insured by a government agency this makes them less risky to lenders than other types of loans. The result is a loan type that tends to have lower interest rates and friendly loan terms.

Lower rates and friendly terms, like smaller down payments and lower credit scores, often make FHA loans a great fit for many buyers especially first-time buyers. This is why many consider the FHA loan a first-time buyer program.

It’s important to note that FHA loans aren’t just for first-time homebuyers, you can use an FHA loan when you decide to buy your “next” home too.

You can use an FHA loan to:

  • Buy a new home
  • Build or construct a new home
  • Renovate using the FHA’s 203K loan program
  • Refinance an existing mortgage or get cash out

Here are a few frequently asked questions:

What is the FHA program’s minimum downpayment?

The FHA has a minimum down payment of 3.5%. However, depending on your credit score it may be as high as 10%.

Is the FHA loan program limited to first-time buyers?

No, the FHA loan program can be used by first-time buyers and repeat buyers.

Is there a minimum credit score for the FHA loan program?

An FHA loan requires a credit score of 580 or higher to qualify for the minimum down payment.  Borrowers can still qualify for an FHA loan as low as 550 but the required down payment may be higher.

If you are without a credit score, your lender may accept “alternate” tradelines to establish a credit history. Ask us about our alternate tradeline loan programs.

What’s the maximum debt to income allowed by FHA?

There are no strict income requirements, but your debt-to-income ratio should be no higher than 43-45%. In some cases with compensating factors, debt ratios can be as high as 55%. You should also be able to demonstrate that you have been employed steadily for at least two years.

Can you qualify if you’ve filed for bankruptcy?

Yes. Borrowers can still qualify for an FHA loan if they have had a bankruptcy in the past. The bankruptcy must be at least two years behind you.

Keystone Alliance Mortgage offers FHA loan solutions and is available to discuss with you whether or not an FHA home mortgage may be an option for you.

Speaking to a loan officer can help answer this and more if you are considering an FHA home loan. If you would like to know more, start by answering a few questions to help us determine if you qualify.

Talk To One Of Our Loan Officers

Schedule a time to discuss your mortgage options.

Keystone Alliance Mortgage

Keystone Alliance Mortgage was the absolute best to work with, hands down. I could not have done it without them. They literally answered every single question I had in such a timely manner with the best explanation!

Taylor M., Excited First Time Homebuyer