FHA loans aren’t just for first-time buyers — they’re for anyone looking for flexible qualification, low down payments, and great rates. Whether you’re buying, refinancing, or rebuilding credit, Your Rate Broker is HUD-approved and ready to help nationwide.
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration and designed to make homeownership accessible for first-time home buyers, lower-credit borrowers, and households with limited savings. FHA loan qualification opens doors that conventional financing closes: a 580 minimum credit score qualifies for the 3.5% down payment, scores from 500 to 579 still qualify with 10% down, gift funds from family members or approved organizations can cover the entire down payment and closing costs, and FHA’s flexible 31% front-end and 43% back-end DTI ratios accommodate borrowers conventional underwriting rejects. Your Rate Broker FHA loan rates currently run in the mid-to-high 5s for qualified buyers, with broader market rates moving daily on the Iran negotiations and inflation trajectory.
FHA loans are also assumable, which is one of the most undervalued advantages in a high-rate environment. When you sell your home, an assumable FHA loan can be transferred to the next buyer at your original interest rate, turning today’s lock into a marketable asset later. An FHA assumable mortgage becomes uniquely valuable when broader market rates rise above the rate of an existing loan. Your Rate Broker is a HUD-approved FHA lender, meaning we are authorized by the U.S. Department of Housing and Urban Development to originate, underwrite, and close FHA loans directly without third-party approval, giving first-time home buyers and lower-credit borrowers faster processing and fewer surprises at closing. Rates are subject to change daily based on market conditions.
FHA loans allow qualified buyers to put down as little as 3.5%.
Borrowers with credit scores as low as 580 can qualify for the minimum down payment, while those with scores as low as 500 may still qualify with 10% down.
FHA loans offer attractive interest rates that are often lower than conventional loan options.
FHA loans are government-backed mortgages that are designed to help more people achieve their homeownership goals. An FHA loan program can be a great option for first-time buyers or those with lower credit scores or limited savings.
Your Rate Broker is able to underwrite FHA loans directly, helping more buyers across the U.S. achieve their homeownership goals with confidence.
580+ credit score for 3.5% down payment. 500-579 credit score possible with 10% down + compensating factors.
2+ years of verifiable income and employment.
Only for primary residences. Must pass an FHA appraisal and inspection.
Maximum 31% front-end DTI and 43% back-end DTI. Higher DTI ratios accepted with automated underwriting (AUS) approval.
Borrowers must undergo mandated waiting periods after filing for bankruptcy or experiencing foreclosure.
