Buy a home with as little as 3.5% down.
FHA loans are designed for first-time buyers and lower credit scores. Shop wholesale FHA rates from 120+ lenders — no LO required.
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Today's Rate Snapshot
Rates shown assume 760+ credit score, 80% LTV, primary residence. Not an offer to lend. APR includes estimated fees and points.
Why Turn Times for FHA?
3.5% Down Payment
FHA loans require as little as 3.5% down — one of the lowest down payment options available.
More Flexible Credit Requirements
FHA guidelines allow lower credit scores than conventional loans, making homeownership more accessible.
Competitive Wholesale Rates
We shop FHA rates across 120+ lenders so you're never stuck with one bank's offer.
How It Works
Share your home purchase goal — takes about 60 seconds.
Tony AI finds your best FHA rate options from 120+ wholesale lenders.
Apply, get approved, and close — we guide you every step.
Not ready to apply? Chat with Tony AI first.
Ask Tony AI
AI Mortgage Advisor
Hi there! I'm Tony AI, your mortgage advisor from Turn Times. It's great you're looking into an FHA loan, especially if you have a lower down payment. FHA loans are fantastic for helping people achieve homeownership, particularly first-time homebuyers or those with less-than-perfect credit.
Let's walk through how FHA loans work and what you might qualify for:
What is an FHA Loan?
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD). Because the FHA insures these loans, lenders are more willing to offer them to borrowers who might not qualify for a conventional loan.
Key Benefits of FHA Loans:
- Lower Down Payment: This is often the biggest draw! You can get an FHA loan with as little as a 3.5% down payment if your credit score is 580 or higher. If your score is between 500-579, you'd need a 10% down payment.
- More Lenient Credit Requirements: FHA loans are generally more forgiving when it comes to credit scores compared to conventional loans.
- Flexible Debt-to-Income (DTI) Ratios: While there are limits, FHA guidelines can be more flexible, especially with compensating factors.
- Assumable: FHA loans are assumable, meaning someone else can take over your mortgage payments if they qualify, which can be a selling point for your home later.
How FHA Loans Work:
- Mortgage Insurance (MIP): Unlike conventional loans where Private Mortgage Insurance (PMI) can be removed once you reach 20% equity, FHA loans require two types of mortgage insurance:
- Upfront Mortgage Insurance Premium (UFMIP): This is a one-time fee of 1.75% of the loan amount, which you can finance into your loan or pay at closing.
- Annual Mortgage Insurance Premium (MIP): This is paid monthly and varies based on your loan amount, loan term, and Loan-to-Value (LTV). For most FHA loans with a 30-year term and an LTV above 90%, this MIP will be required for the entire life of the loan.
- Property Requirements: The home you buy must meet certain FHA Minimum Property Requirements (MPR) to ensure it's safe, sound, and sanitary. An FHA-approved appraiser will check for this.
- Occupancy: FHA loans are for primary residences only, meaning you must intend to live in the home.
- Loan Limits: F
Ask Tony AI provides general mortgage education — not personalized financial advice. For a rate quote or pre-approval, speak with a licensed loan officer.
Tony is an AI-powered tool for informational purposes only. Tony is not a licensed mortgage loan originator and does not provide credit decisions. Results are not a commitment to lend. All loan applications are subject to credit approval and underwriting.
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