FHA loans are popular with first-time buyers thanks to low down payment requirements. Estimate your monthly payment including mortgage insurance premiums.
FHA loans allow down payments as low as 3.5% for borrowers with a credit score of 580 or higher, making them accessible to many first-time homebuyers.
Yes, FHA loans require both an upfront mortgage insurance premium (UFMIP) and an annual mortgage insurance premium (MIP), which is typically included in your monthly payment.