Comprensión de los Préstamos FHA
What Is an FHA Loan?
FHA loans are mortgages insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development (HUD). These loans are designed to help first-time homebuyers and those with less-than-perfect credit achieve homeownership. FHA loans require lower minimum credit scores and down payments than many conventional loans, making them accessible to a broader range of borrowers.
FHA Mortgage Insurance Requirements
All FHA loans require two types of mortgage insurance: an upfront mortgage insurance premium (UFMIP) and an annual mortgage insurance premium (MIP). The UFMIP is currently 1.75% of the base loan amount and can be rolled into the loan. The annual MIP ranges from 0.15% to 0.75% depending on the loan term, loan amount, and loan-to-value ratio. For most 30-year loans with less than 5% down, the annual MIP is 0.55%.
Down Payment Requirements
FHA loans require a minimum down payment of 3.5% for borrowers with credit scores of 580 or higher. For scores between 500-579, a 10% down payment is required. The down payment can come from savings, gifts from family, or approved down payment assistance programs.
FHA vs. Conventional Loans
FHA loans have more flexible qualification requirements but require mortgage insurance for the life of the loan (for most loans originated after June 2013). Conventional loans may not require mortgage insurance with 20% down. FHA loans are often better for borrowers with lower credit scores or limited down payment funds.
FHA Loan Limits
FHA sets loan limits that vary by county. In 2025, the national floor is $524,225 for a single-family home in low-cost areas, while high-cost areas can go up to $1,209,750. These limits are updated annually based on median home prices.