Is FHA only for first-time buyers?

No — FHA is available to any owner-occupant who meets the credit and occupancy rules, regardless of whether you've owned before.

What's the catch with mortgage insurance?

FHA loans carry both an upfront premium (financed into the loan) and a monthly premium that, for most files, stays for the life of the loan unless you refinance into conventional later.

Can I buy a fixer-upper with FHA?

Yes — FHA 203(k) renovation loans roll purchase price and repair costs into one mortgage. Ask us about the limited and standard versions.

Loan Program

FHA loans — the friendliest path for first-time buyers.

3.5% down, forgiving credit guidelines, and rates that hold up against conventional for buyers under 720 FICO.

3.5%

Min down

580

Min FICO

100%

Gift funds

15 / 30 yr

Term

Best fit for

First-time buyers with limited savings
Borrowers rebuilding credit after a setback
Buyers using a 203(k) to roll in light renovations

Worth knowing

Mortgage insurance is usually for the life of the loan
Property must meet FHA appraisal standards (no peeling paint, safety issues)
County loan limits cap the maximum loan size

Questions we hear

Is FHA only for first-time buyers?: No — FHA is available to any owner-occupant who meets the credit and occupancy rules, regardless of whether you've owned before.
What's the catch with mortgage insurance?: FHA loans carry both an upfront premium (financed into the loan) and a monthly premium that, for most files, stays for the life of the loan unless you refinance into conventional later.
Can I buy a fixer-upper with FHA?: Yes — FHA 203(k) renovation loans roll purchase price and repair costs into one mortgage. Ask us about the limited and standard versions.

Want to see if this fits your situation?

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Program details shown on this page — including down payment percentages, terms, and qualifying figures — are general guidelines from wholesale lender programs and are provided for informational purposes only. They are not an offer of credit, an advertisement of specific credit terms, a rate quote, or a commitment to lend. Actual down payment, rate, annual percentage rate (APR), term, points, fees, and monthly payment depend on your credit, income, assets, property, occupancy, and the lender's underwriting, and are disclosed only after a complete application. Program availability and terms are subject to change without notice. All loans subject to credit approval.

Dages Capital is a mortgage brokerage licensed in Indiana, NMLS #2802965. Equal Housing Opportunity.