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FHA Loans: Homeownership Made More Accessible

FHA loans are insured by the Federal Housing Administration and designed to help more people qualify — with as little as 3.5% down and more flexible credit guidelines. A popular choice for first-time buyers across the OKC metro.

See If I Qualify for FHA → 📞 (405) 390-7072
  • 3.5% minimum down*
  • Credit scores from 580*
  • Gift funds allowed

Check Your FHA Loan Options

Quick, no-obligation request. Earnest will follow up personally.

Prefer to talk now? Call or text Earnest at (405) 390-7072

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Overview

What Is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration (part of HUD) and issued by approved private lenders. Because of that government insurance, lenders can offer more flexible qualifying standards than many conventional loans.

With a credit score of 580 or higher, borrowers may qualify with a 3.5% down payment. Borrowers with scores between 500 and 579 may still qualify with 10% down, subject to lender overlays. FHA also allows the entire down payment to come from a documented gift from a family member or approved source.

FHA loans do require mortgage insurance: an upfront mortgage insurance premium (UFMIP) of 1.75% — which can be financed into the loan — plus an annual premium paid monthly. Earnest will show you exactly how that compares to conventional options so you can choose what saves you the most.

*Minimum credit score and down payment requirements vary by lender. All loans subject to credit approval.

Key Benefits

Key Benefits of FHA Loans

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Low Down Payment

As little as 3.5% down with a 580+ credit score.

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Flexible Credit

More forgiving credit guidelines than many conventional programs.

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Gift Funds Allowed

Your down payment can come from a documented gift from family or approved sources.

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Higher DTI Flexibility

FHA can allow higher debt-to-income ratios with compensating factors.

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Assumable

FHA loans are assumable, which can be an attractive feature when you sell.

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Renovation Option

FHA 203(k) loans let you finance the purchase and repairs together.

At a Glance

FHA Loan Guidelines at a Glance

General guidelines only — requirements vary by lender and individual situation.

FeatureDetails
Minimum Down Payment3.5% with 580+ credit score; 10% with 500–579
Upfront Mortgage Insurance1.75% of the base loan amount (can be financed)
Annual Mortgage InsurancePaid monthly; rate depends on loan amount, term, and down payment
Loan LimitsSet annually by FHA and vary by county
OccupancyPrimary residence
Property Types1–4 unit homes, FHA-approved condos, manufactured homes meeting HUD guidelines
Seller ConcessionsUp to 6% of the sales price toward closing costs
Refinance OptionsFHA Streamline, FHA Rate/Term, FHA Cash-Out (up to 80% LTV)

Program guidelines, limits, and fees are subject to change. All loans subject to credit approval. Terms and conditions apply.

The Process

Your Path to an FHA Loan

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Share Your Goals

Complete a short form and tell Earnest about your budget and timeline.

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Compare FHA vs. Conventional

We compare total costs side-by-side, including mortgage insurance, so you pick the smartest option.

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Close & Move In

With your pre-approval in hand, shop with confidence and close smoothly.

★★★★★
"My credit score was 604 after some medical bills, and I honestly didn't think I could buy a house. Earnest explained the FHA program, helped me use a gift from my parents for the down payment, and I closed on a three-bedroom home in Moore. I'm so grateful."
BC
Brianna CaldwellFirst-time buyer · FHA purchase in Moore, OK

Client testimonials reflect individual experiences and are not a guarantee of future results, rates, or approval.

Start Your FHA Pre-Approval

Find out how much home you may qualify for with an FHA loan. No obligation.

Prefer to talk now? Call or text Earnest at (405) 390-7072

🔒 Your information is secure and never sold. Checking your options will not affect your credit score.

Answers

FHA Loan FAQs

FHA guidelines allow scores as low as 580 for 3.5% down, and 500–579 with 10% down. Individual lenders may set higher minimums. Since Earnest works with 200+ lenders, he can look for lenders whose guidelines fit your profile.

For most FHA loans with less than 10% down, the annual mortgage insurance remains for the life of the loan. With 10% or more down, it can end after 11 years. Many homeowners later refinance into a conventional loan to remove mortgage insurance once they have enough equity.

No. FHA loans are available to any borrower who meets the guidelines and plans to live in the home as their primary residence. You generally can only have one FHA loan at a time, with limited exceptions.

FHA loan limits are set annually by county. Most OKC metro counties fall under the standard FHA limit for single-family homes, with higher limits for 2–4 unit properties. Earnest will confirm the current limit for your county.

Possibly. FHA generally requires a waiting period of about 2 years after a Chapter 7 bankruptcy discharge and 3 years after a foreclosure, with some exceptions for extenuating circumstances. Re-established credit is required.

Have a quick question about your options?

Earnest answers calls and texts personally — no call centers.

📞 Call (405) 390-7072Get Pre-Approved