FHA Loans

An FHA loan is a type of mortgage loan that is insured by the Federal Housing Administration (FHA). This means that if the borrower cannot repay the loan, the FHA will help cover the lender's losses. Because of this insurance, lenders are more willing to offer favorable terms to borrowers, such as lower down payments and more flexible credit requirements.

Key features of FHA loans

  • Lower Down Payment: FHA loans typically require a down payment as low as 3.5% of the home's purchase price, making it easier for people to buy a home without needing a large amount of money upfront.

  • Flexible Credit Requirements: FHA loans are more forgiving of lower credit scores compared to conventional loans, so people with less-than-perfect credit can still qualify.

  • Assistance for First-Time Homebuyers: These loans are often popular with first-time homebuyers because of the lower down payment and easier credit requirements.

  • Loan Limits: There are limits to how much you can borrow with an FHA loan, which vary by location and are designed to ensure the loans remain accessible to a wide range of borrowers.


  • Income W2: 2 years employment history w/paystubs

  • Income Self-Employed: 2 Years of Tax-returns

  • Income Retirement, Social Security, Pension.

  • Down Payment 3.5% (score 580+, ideal 620+)

  • Down Payment 10% (score 550 to 579)

  • Collection do not matter

  • Student Loans OK

  • Gift money OK (family member)

  • Manufactured homes OK (built after 1977)

  • Mortgage insurance always required

  • 6% Seller Concessions

See what You Qualify For

Where are you in your home buying journey?

What type of property are you looking to purchase?

How do you plan to use your future home?

Do you own any property?

What is your current employment status?

What is your estimated credit score range?

What's your yearly income before taxes?

This is the same thing as gross income. You don't need to be exact but try to get as close as possible.

What is the estimated price range of the home you are looking to buy?

How much have you saved for purchasing the home?

What is your current residency status?

Are you already working with a real estate agent to buy your new home?

Have you had any foreclosures or bankruptcies in the past three years?

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Work with an Expert Mortgage Consultant

At Generation Mortgage Associates LLC , we partner with over 50 top lenders nationwide to find the best mortgage loan tailored to your specific needs. Regardless of your financial situation, credit history or income, we can secure a mortgage for you.

Our agents possess extensive expertise in the real estate market, staying ahead of trends and understanding property values. This enables them to offer you tailored, insightful guidance specific to your needs and goals.

Whether you prefer face-to-face meetings or virtual consultations, we are accessible and ready to assist. Trust us for a smooth and stress-free financing journey.

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Company NMLS#: 224585

1155 Pasadena Ave S - Suite H - South Pasadena, FL 33707

This website has not been reviewed, approved or issued by HUD, FHA or any governmental agency.