- 3.5% down payment
- 6% seller contribution allows
- 100% gifted down payment allowed
- Maximum loan amount $271,050
- Repair escrow allowed up to $500
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy, low to moderate income families who do not meet requirements for conventional loans.