FHA.
The federal loan that welcomes imperfect credit and small down payments. With 3.5% down and scores considered from 580, it is how most of our first-time buyers in North Park and Chula Vista get their first keys.
- Down payment from
- 3.5%
- Credit score from
- 580
- Terms
- 15–30 yr
- Sample 30-yr rate
- 5.990%
Who it tends to fit.
Buyers buying their first home, borrowers with a thin file or a bruised score, and anyone whose savings cover 3.5% but not 20%. FHA looks at the whole story — on-time rent, steady work, explanations for old collections — not just the three-digit number.
It also allows the full down payment to come as a gift and lets sellers contribute toward closing costs, which is why so many of our 19-day closings are FHA files.
What's included.
- FHA-approved lender quotes compared in writing, with MIP baked into every APR.
- Gift-fund paperwork handled for you — donor letters, paper trails, no last-minute scrambles.
- FHA appraisal standards explained upfront, so repair conditions never surprise you.
- Down-payment assistance screening: city, county and state programs you may stack.
- The same 21-day playbook — one officer, Friday updates, plain-English conditions.
How an FHA file runs.
Step 1
Map every dollar
Down payment, gifts, assistance and closing costs on one worksheet — before you tour a single home.
Step 2
Offer with a strong letter
Sellers sometimes flinch at FHA; our letters carry full underwriting notes so yours reads like a sure thing.
Step 3
Clear conditions fast
FHA appraisals can call out repairs. We front-load the checklist so conditions clear in days, not weeks.
Worth knowing first.
FHA charges mortgage insurance twice: an upfront premium rolled into the loan and a monthly amount (MIP) that lasts 11 years — or the life of the loan if you put less than 10% down. That is the tradeoff for the low entry cost, and we price it against conventional PMI for your exact file so you can see the crossover point.
Many FHA buyers refinance into conventional once their equity passes 20% and the score recovers. We calendar that review with you at closing — when the math flips, Nora runs the refinance numbers free and tells you whether to move or wait.