FHA Loans
At Alpha Mortgage, we recognize that not every buyer has flawless credit or a large nest egg set aside for a down payment—and that shouldn’t stop you from purchasing a home. That’s why the FHA Loan program, insured by the Federal Housing Administration, continues to be one of the most widely used paths to homeownership. With easier credit qualifications, reduced down payment options, and flexible guidelines, FHA financing could be the right solution for your needs.
Call Today! (910) 256-8999
What is an FHA Loan?
An FHA Loan is a government-insured mortgage designed to help more people step into homeownership. It’s especially helpful for first-time buyers, families who need budget-friendly options, or borrowers who may not qualify under conventional loan standards.
Down Payment Advantages
One of the standout benefits of FHA financing is the smaller down payment requirement:
- Only 3.5% down if your credit score is 580 or higher
- 10% down for buyers with scores between 500–579
- Funds from relatives or approved down payment assistance programs may be used to cover these costs
This feature makes FHA Loans appealing to buyers who want to purchase sooner, even if savings are limited.
Eligible Property Types
FHA Loans are meant to help you buy your primary residence. This includes:
- Single-family homes, townhomes, and certain condos
- Multi-unit properties (up to 4 units) as long as you live in one unit as your main home
- Not eligible for second homes or investment properties
If you’re interested in financing a vacation home or rental property, our team can connect you with other options such as Conventional Loans.
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Need More Info?
Please provide your contact information below, and a Mortgage Loan Officer will be in touch soon.
What is an FHA Loan?
An FHA Loan is a government-insured mortgage designed to help more people step into homeownership. It’s especially helpful for first-time buyers, families who need budget-friendly options, or borrowers who may not qualify under conventional loan standards.
Down Payment Advantages
One of the standout benefits of FHA financing is the smaller down payment requirement:
- Only 3.5% down if your credit score is 580 or higher
- 10% down for buyers with scores between 500–579
- Funds from relatives or approved down payment assistance programs may be used to cover these costs
This feature makes FHA Loans appealing to buyers who want to purchase sooner, even if savings are limited.
Eligible Property Types
FHA Loans are meant to help you buy your primary residence. This includes:
- Single-family homes, townhomes, and certain condos
- Multi-unit properties (up to 4 units) as long as you live in one unit as your main home
- Not eligible for second homes or investment properties
If you’re interested in financing a vacation home or rental property, our team can connect you with other options such as Conventional Loans.
Top Benefits of FHA Loans
- Lower down payment requirements
- More flexible credit standards than conventional programs
- Higher debt-to-income ratios to expand buying power
- Ability to use gift money toward down payment or closing costs
- Assumable loans—future buyers may be able to take over your FHA loan (often with a lower interest rate), making your home more attractive when you sell
Who FHA Loans Are Great For
- First-time homebuyers looking for an affordable way to get started
- Borrowers with less-than-perfect credit who still want strong financing terms
- Buyers carrying other debts, such as student loans or auto payments, who need higher debt-to-income flexibility
FHA programs make it possible for thousands of buyers each year to achieve the dream of homeownership.
Call Today! (910) 256-8999