About FHA Loans

A low down payment could open the door to your new home! Insured by the Federal Housing Administration, FHA loans were originally designed to serve first-time buyers with less-than-perfect credit or past credit issues. Today, FHA loans are available to borrowers of all kinds—even homeowners looking to refinance. FHA loans are generally more flexible in credit, income, and down payment requirements making them a secure choice for borrowers who might not qualify for Conventional loans.

Why Get an FHA Loan?

  • Put down as little as 3.5% for fixed-rate loans.
  • Credit scores as low as 580 may be accepted.
  • Can be easier to qualify for than Conventional loans.
  • Fixed and adjustable rates are available.
  • It’s possible to refinance a Conventional loan into an FHA loan.
  • FHA to FHA streamline refinances do not require an appraisal.
  • Available for cash-out refinance or rate/term refinance.
  • FHA-eligible down payment assistance programs allowed with a Cardinal Financial-approved program.