FHA Loans 2025 | Low Down Payment Loans with Wain Capital

What Is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development (HUD). FHA doesn’t lend money directly—instead, it protects lenders against losses if a borrower defaults. This protection allows lenders to approve more borrowers, even those who may not qualify for conventional financing.

FHA mortgages are designed to make homeownership more accessible, especially for:

• Borrowers with lower credit scores
• Buyers with limited savings for a down payment
• Families needing flexible debt-to-income ratios
   

With an FHA loan, you may qualify even if conventional lenders have turned you away.

• Low down payment – As little as 3.5% down with a credit score of 580 or higher
• Flexible credit requirements – Possible approval with scores as low as 500 (with 10% down)
• Higher debt-to-income allowances – More room for borrowers managing student loans, car payments, or other debts
• Fixed-rate and adjustable-rate options – Stability or flexibility, depending on your needs
• Mortgage insurance included – Upfront and annual Mortgage Insurance Premiums (MIP) provide lender protection
• Property flexibility – Eligible for 1–4 unit homes, condos, manufactured homes, and FHA-approved fixer-uppers
   

• FHA Purchase Loan – Buy a home with low down payment requirements
• FHA 203(k) Renovation Loan – Finance a home and renovation costs in one loan
• FHA Streamline Refinance – Lower your rate with reduced paperwork
• FHA Reverse Mortgage (HECM) – Home Equity Conversion for homeowners 62+
• FHA Energy-Efficient Mortgage – Roll energy upgrades into your financing
   

Loan limits vary by county and property type. In 2025, FHA loan limits range from $498,257 (standard) to $1,149,825 (high-cost areas). Your eligibility depends on your property location.

Can I buy a fixer-upper?
Yes — the FHA 203(k) Loan lets you buy and renovate with one mortgage.

Do FHA loans work for seniors?
Yes — the FHA Reverse Mortgage (HECM) helps homeowners 62+ tap into home equity.

Can I finance energy improvements?
Yes — the FHA Energy-Efficient Mortgage covers upgrades like solar panels or insulation.

Can I buy a manufactured home?
Yes — FHA financing is available for manufactured or factory-built homes, whether you own the land or place the home in a community.

Minimum Down Payment

• FHA Loan: 3.5%
• Conventional Loan: 5–20%
   

Credit Score Requirement

• FHA Loan: 500–580+
• Conventional Loan: 620+
   

Debt-to-Income Ratio

• FHA Loan: Higher flexibility
• Conventional Loan: Stricter
   

Mortgage Insurance

• FHA Loan: Required (MIP)
• Conventional Loan: Required if less than 20% down (PMI)
   

Eligible Properties

• FHA Loan: 1–4 units, condos, manufactured home 
• Conventional Loan: 1–4 units, condos