FHA Loan Overview
First-time home buyers
Flexible approval guidelines
Low down payment
BEST FIT
If you're a first-time home buyer, an FHA loan is a great mortgage loan option. An FHA loan has a lot of flexibility and several unique advantages just for first-time buyers when it comes to getting approved.
BENEFITS
An FHA loan is a great option for first-time home buyers, and often features approval guidelines that are much more flexible when it comes to your credit history and background. With some down payments as low as 3.5%*, FHA loans are a great option for many families starting their journey as new homeowners. FHA loans are backed by the Federal Housing Administration and designed to help borrowers buy a home with down payments as low as 3.5% and credit scores as low as 600 through American Pacific Mortgage.
Key Benefits
Down payment as low as 3.5%
Credit scores as low as 600 accepted (APM requirement)
Flexible debt-to-income ratios
Gift funds allowed for down payment
Assumable loans available