FHA Loans
Low down payment, flexible credit guidelines
FHA loans are insured by the Federal Housing Administration. They allow down payments as low as 3.5%, accept lower credit scores than most conventional programs, and are a go-to option for many first-time homebuyers in Washington.
Program Highlights
- ◆Down payment as low as 3.5%
- ◆Down payment may be 100% gifted
- ◆More flexible credit and DTI guidelines
- ◆Streamline refinance available later
Best For
- ◆First-time homebuyers
- ◆Buyers rebuilding credit
- ◆Households with smaller down payments
Qualification Requirements
- 01FICO 580+ for 3.5% down (500–579 with 10% down)
- 02Property must be primary residence
- 03DTI typically up to 50% with compensating factors
- 04Property must meet FHA minimum property standards
Advantages
- +Lower credit requirements
- +Smaller down payment
- +Assumable by future buyer
Trade-Offs
- –Mortgage insurance for the life of the loan (most cases)
- –Loan limits vary by county
- –Property condition requirements
How the Process Works
- 01Pre-approval with credit + income review
- 02Find FHA-eligible property
- 03FHA appraisal
- 04Close in 25–35 days
Frequently Asked
What credit score do I need for an FHA loan?+
580+ qualifies for 3.5% down. Scores between 500–579 may qualify with 10% down. We can review your full credit profile to find the best fit.
How much is FHA mortgage insurance?+
FHA charges a 1.75% upfront MIP (financed into the loan) plus an annual MIP of 0.15%–0.75% paid monthly, depending on loan term and LTV.
Can I use an FHA loan in Kitsap County?+
Yes. The 2026 FHA loan limit for a single-family home in Kitsap County is $1,209,750, covering most homes in Poulsbo, Bremerton, Silverdale, and Port Orchard.
Ready to Get Started?
Apply online in minutes or talk through your scenario with our team.