Flexible qualification guidelines and lower down payment options — ideal for first-time and credit-rebuilding buyers.
What it is
FHA loans are insured by the Federal Housing Administration and offered by approved lenders. Because the FHA backs the loan, lenders can be more flexible on credit scores and down payments — making FHA a popular choice for first-time buyers and anyone rebuilding credit.
Andrew Kashella helps Florida buyers compare FHA programs from over 100 lenders to find the right fit on rate, monthly mortgage insurance, and seller-paid closing-cost flexibility.
Who it's for
A few signs this program might be a strong fit. Even if you don't see yourself in this list, reach out — Andrew works with over 100 lenders and there's likely an option that fits.
Key Features
Lowest standard down-payment minimum of any major loan program.
Credit scores starting at 580 (and sometimes 500 with 10% down).
100% of your down payment can come from family gift funds.
FHA rates are often comparable or better than conventional for lower-credit borrowers.
Single-family, multi-unit (up to 4 units), condos on the FHA-approved list.
FHA insurance protects the lender, which is why qualifying is easier.
Frequently Asked
580 with a 3.5% down payment, or 500–579 with 10% down. Andrew can help find lenders that work with lower-score borrowers.
There's a 1.75% upfront premium (financed into the loan) and an annual premium that varies based on loan term, LTV, and amount — typically 0.55% per year for most borrowers.
Generally FHA loans are for primary residences only, but there are some exceptions for relocation, family-size growth, and other life events.
On most FHA loans originated since 2013, MIP lasts the entire life of the loan unless you put 10%+ down (in which case it drops off after 11 years). Refinancing into a conventional loan once you have 20% equity is a common path to drop MIP.
Andrew Kashella is here to help you compare options, understand the numbers, and figure out if this program is the right fit for your situation.
Andrew Kashella — NMLS #139171 | Innovative Mortgage Services, Inc. — NMLS #250769
Loan programs are subject to borrower qualification, credit approval, and property eligibility. Not all applicants will qualify. Additional terms and conditions may apply. Interest rates and loan programs are subject to change without notice. This is not a commitment to lend or extend credit.