Elite Living Lending

Loan Program · N° 02

FHA Loans

A welcoming door for first-time buyers.

Lower down payments and flexible credit requirements — ideal for first-time buyers ready to break into the market.

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Backed by the Federal Housing Administration.

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Down payments as low as 3.5% for scores of 580 and above.

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Seller can contribute up to 6% toward closing costs.

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Mortgage insurance applies — we’ll map your long-term strategy.

3.5% down

Qualify with a credit score of 580+ and a modest down payment.

Flexible credit

More forgiving guidelines for buyers rebuilding or establishing credit.

Gift funds welcome

Your entire down payment can come from an eligible gift.

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Common Questions

FHA FAQs

What’s the minimum credit score for FHA?

You can qualify with a score as low as 580 for 3.5% down, and sometimes lower with a larger down payment. FHA is intentionally flexible.

Can my down payment be a gift?

Yes — your entire 3.5% down payment can come from an eligible gift from family, which is a big help for first-time buyers.

Does FHA require mortgage insurance?

Yes, FHA loans carry mortgage insurance. We’ll map a long-term strategy, which often includes refinancing to conventional once you build equity.

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