FHA loan

A home loan with less upfront

Down payments as low as 3.5%

Flexible credit guidelines

May be easier to qualify for

Couple hugging outside a home.Couple hugging outside a home.

“The process of getting an FHA loan was very quick. Everyone was helpful. So glad I went with Rocket Mortgage.”

- Christina D.

The ins & outs of FHA home loans

Key benefits

Less money down

Down payments can start as low as 3.5% for most FHA borrowers.

More room to qualify

Higher debt-to-income ratios and credit scores from 580 are allowed.

Government backed

Flexible guidelines help more qualified borrowers get approved.

What to expect

Mortgage Insurance Premium (MIP)

FHA loans carry annual insurance costs as a trade off for less down.

Standard appraisal

Homes must meet basic safety, security, and structural standards.

Limitations may apply

Loan limits range depending on your market. View 2026 loan limits.

Explore, compare, find the right fit

Best for

Down payment

Credit score

Mortgage insurance

FHA

FHA
ONE+2
HomeReady & Home Possible

FHA

Best for

Buyers who need more flexible qualifications

Down payment

As low as 3.5%

Credit score

580+1

Mortgage insurance

Required for the life of the loan

Best for

Buyers looking to minimize upfront costs

Down payment

As low as 1% (Rocket Mortgage covers 2%)

Credit score

620+

Mortgage insurance

Required until you reach 20% equity

Learn more

Best for

Buyers seeking low down payment options

Down payment

As low as 3%

Credit score

620+

Mortgage insurance

Lower than standard loans

Learn more

ONE+2

FHA
ONE+2
HomeReady & Home Possible

ONE+2

Best for

Buyers who need more flexible qualifications

Down payment

As low as 3.5%

Credit score

580+1

Mortgage insurance

Required for the life of the loan

Best for

Buyers looking to minimize upfront costs

Down payment

As low as 1% (Rocket Mortgage covers 2%)

Credit score

620+

Mortgage insurance

Required until you reach 20% equity

Learn more

Best for

Buyers seeking low down payment options

Down payment

As low as 3%

Credit score

620+

Mortgage insurance

Lower than standard loans

Learn more

HomeReady & Home Possible

FHA
ONE+2
HomeReady & Home Possible

HomeReady & Home Possible

Best for

Buyers who need more flexible qualifications

Down payment

As low as 3.5%

Credit score

580+1

Mortgage insurance

Required for the life of the loan

Best for

Buyers looking to minimize upfront costs

Down payment

As low as 1% (Rocket Mortgage covers 2%)

Credit score

620+

Mortgage insurance

Required until you reach 20% equity

Learn more

Best for

Buyers seeking low down payment options

Down payment

As low as 3%

Credit score

620+

Mortgage insurance

Lower than standard loans

Learn more

FHA

FHA
ONE+2
HomeReady & Home Possible

ONE+2

FHA
ONE+2
HomeReady & Home Possible

Best for

Buyers who need more flexible qualifications

Buyers looking to minimize upfront costs

Down payment

As low as 3.5%

As low as 1% (Rocket Mortgage covers 2%)

Credit score

580+1

620+

Mortgage insurance

Required for the life of the loan

Required until you reach 20% equity

Learn more

Legal disclaimer

1To qualify for this offer, you must meet all standard FHA eligibility requirements. In addition, your total mortgage payment, including taxes and insurance, cannot exceed 38% of your income, your debt-to-income (DTI) ratio cannot exceed 45%, and you must have 12 months of verifiable housing history immediately prior to your application, no late payments 30 days or greater in the last 12-months, and no derogatory marks on your credit report. Not available on jumbo loans. Asset statements may be needed, no more than 1 day of non-sufficient fund fees are allowed in the most recent 2 months prior to application. Additional restrictions/conditions may apply.

Legal disclaimer

2Client will be required to pay a 1% down payment, with the ability to pay a maximum of 3%, and Rocket Mortgage will cover an additional 2% of the client’s purchase price as a down payment, or $2,000. Maximum grant amount is $7,000. Offer valid on primary residence, conventional loan products only. Maximum loan amount of $350,000. Cost of mortgage insurance premium passed through to client effective January 2, 2024. Offer valid only for home buyers when qualifying income is less than or equal to 80% area median income based on county where property is located. Not available with any other discounts or promotions and cannot be retroactively applied to previously closed loans or loans that have a locked rate. This is not a commitment to lend. Rocket Mortgage reserves the right to cancel/modify this offer at any time. Additional restrictions/conditions may apply.

Tools to explore

Rates

Loan Options

Calculators

Articles

FHA loan questions? We’ve got answers.

Yes, you can have a co-borrower for your FHA loan. At least one person on the loan must live in the house as their primary residence.

Depending on your financial situation, a co-borrower may help make it easier to qualify for a home loan.

In order for you to qualify for the 3.5% down payment on an FHA loan, your co-borrower needs to be a family member. The FHA considers the following to be family members:

  • Parents (including stepparents and foster parents)
  • Spouses or domestic partners
  • Children (including stepchildren, foster children and adopted children)
  • Siblings (including step-siblings)
  • Grandparents (including step-grandparents and foster grandparents)
  • Aunts and uncles
  • In-laws

Yes, you can opt to pay a larger down payment.

Why put down more? The more you put down, the lower your monthly mortgage payment will be.

Or you could decide to go with the lowest down payment and use the funds for closing costs. We’ll help you know which strategy is best for you.

No, repeat home buyers may also qualify for FHA loans. You can also use an FHA loan to refinance your current mortgage.

FHA loans are backed by the government, so rates tend to be lower than conventional mortgage rates.

The rate you get will depend on your financial history, the amount you’re borrowing, your down payment amount and other factors.

Yes, it's possible to use some kinds of down payment assistance when you qualify for an FHA Loan. Our Home Loan Experts can figure out what you might be eligible for.

Like other types of refinances, an FHA loan refinance lets you swap your existing home loan for a new one, which usually means new loan terms.

An FHA simple refinance is for homeowners who already have an FHA loan and are looking to lower their interest rate or monthly payment. You can also switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan.

An FHA streamline refinance is also available for people who have an FHA loan. But a streamline refinance doesn’t typically require an appraisal or in-depth credit report.

An FHA cash-out refinance lets you take on a new mortgage with a larger loan amount, paying you the difference in a lump sum.

Read more about FHA refinancing options.

 Learn more about FHA loans
Important legal disclosures

1To qualify for this offer, you must meet all standard FHA eligibility requirements. In addition, your total mortgage payment, including taxes and insurance, cannot exceed 38% of your income, your debt-to-income (DTI) ratio cannot exceed 45%, and you must have 12 months of verifiable housing history immediately prior to your application, no late payments 30 days or greater in the last 12-months, and no derogatory marks on your credit report. Not available on jumbo loans. Asset statements may be needed, no more than 1 day of non-sufficient fund fees are allowed in the most recent 2 months prior to application. Additional restrictions/conditions may apply.

2Client will be required to pay a 1% down payment, with the ability to pay a maximum of 3%, and Rocket Mortgage will cover an additional 2% of the client’s purchase price as a down payment, or $2,000. Maximum grant amount is $7,000. Offer valid on primary residence, conventional loan products only. Maximum loan amount of $350,000. Cost of mortgage insurance premium passed through to client effective January 2, 2024. Offer valid only for home buyers when qualifying income is less than or equal to 80% area median income based on county where property is located. Not available with any other discounts or promotions and cannot be retroactively applied to previously closed loans or loans that have a locked rate. This is not a commitment to lend. Rocket Mortgage reserves the right to cancel/modify this offer at any time. Additional restrictions/conditions may apply.