Choose from several FHA loan programs that are backed by HUD: Adjustable Rate Mortgages, Fixed Rate Loans, Energy Efficient Mortgages, Graduated Payment Loans, Condo Loans, and Growing Equity Mortgages.

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FHA Loan Programs for 2024

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FHA Home Loans

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

FHA Loan Programs

Choose from Several 2024 FHA Mortgage Options

With its low down payment requirements and flexible guidelines, FHA-insured loans have always been a great option for first-time homebuyers. This holds true for repeat homebuyers as well. Whether you are buying your first home or moving to a new one, there is an FHA loan program to suit your needs.

FHA Loan Prequalification

Prequalify for an FHA Loan

Getting prequalified is a simple and quick process, and can even be done over the phone. Your loan officer will require information about your basic finances, such as debt, income, and assets. After running these numbers and evaluating them, he/she can tell you an amount you may qualify to borrow.

While prequalifying for a loan doesn't necessarily guarantee that you will be able to purchase the home of your dreams, it does help you and potential lenders know your borrowing power and what you can afford in terms of a monthly mortgage payment.




Fixed Rate FHA Loan

Fixed Rate FHA Mortgage

A mortgage where the interest rate remains the same through the term of the loan and fully amortizes is known as a fixed rate mortgage. Since the interest rate remains constant, monthly payments don’t change. Fixed rate mortgages come with terms of 15 or 30 years.

Even if mortgage rates increase astronomically, your interest rate is locked in and your monthly payments won’t change. But timing can be your worst enemy when it comes to locking in your rate. You may feel you’re getting a low rate at closing time, but a few months down the line the rates may drop further.


Adjustable Rate Mortgage (ARM)

Adjustable Rate Mortgage or ARM

The initial interest rate of the ARM will likely be lower than many fixed rate mortgages, but this only lasts for a certain amount of time. After this introductory fixed-rate period, your monthly payments will increase or decrease according to the interest rate which is tied to an adjustment index.

Adjustable rate mortgages come with “caps” and “ceilings” that put limits on the increase of interest rates over the life of the loan. These help prevent your monthly payments from getting too high, and help look past the uncertainty that comes with ARMs.

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FHA Jumbo Loan

FHA Jumbo Loan

Fannie Mae and Freddie Mac have limits on the size of government-backed mortgages, but when a loan exceeds that limit it is known as a jumbo loan. These mortgages are too expensive to for Fannie and Freddie to buy, which is why the limits are placed.

The downside to jumbo loans is that even though the application process has been simplified, they’re not easy to qualify for. As a borrower, you need to have an almost excellent credit score, make a large down payment, and have a low debt-to-income ratio.


FHA Condominium Loans

FHA Condominium Loans

FHA condominium loans can be more complicated than some other types of new purchase real estate loans due to the FHA has requirements places on condo projects. These factors shouldn't discourage a borrower from exploring their FHA condo loan options, but it's important to be aware of the rules in order to save time and begin the search for a new home in the right place.




Energy Efficient Mortgage

FHA Energy Efficient Mortgage

The Energy Efficient Mortgage Loan program helps current or potential homeowners significantly lower their monthly utility bills by enabling them to incorporate the cost of adding energy efficient improvements into their new home or existing housing.

This FHA program eliminates the need for homeowners who are interested in making their home more energy efficient to take out an additional mortgage loan to cover the cost of the improvements they intend to make to their property. The program is available as part of a FHA insured home purchase or by refinancing your current mortgage loan.


Graduated Payment Mortgage

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Graduated Payment Mortgages are FHA loans for homebuyers who currently have low to moderate incomes but expect them to increase substantially over the next 5 to 10 years.


Growing Equity Mortgage

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FHA Section 245(a) allows those who currently have a limited income, but expect that their monthly earnings will increase, to purchase a home with the help of a Growing Equity Mortgage in which payments start small and increase gradually over time.


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FHA Loan Articles and Mortgage News

Learn About Adjustable Rate Mortgages

February 23, 2024 - If you are concerned about mortgage loan interest rates and decide to explore your options with an FHA adjustable rate mortgage, there are some details to know about these loans before you start. Borrowers are required to make a minimum down payment of 3.5%.

How Much Does My Home Loan Cost?

February 20, 2024 - We typically encourage house hunters to aggressively compare lenders and loan options. But what about the steps before all that, when you are comparing costs and trying to make a budget for buying your new home?

FHA Home Loan Rules You Should Know

February 19, 2024 - Do you know what to do if the appraisal comes in lower than the sale price? Or whether you can rent out an unused living unit in the home you buy with an FHA loan? These are important things to know when you are planning and saving for your mortgage.

Differences Between VA, FHA, and USDA Mortgages

February 18, 2024 - There are three important government-backed mortgage loan options borrowers can choose from when comparing home loans. Many people are new to these programs and their nuances at first, here’s what you need to know as a first-time home buyer reviewing these loans.

Adding Things to Your FHA Loan

February 15, 2024 - While add-ons to your FHA home loan can drive up the monthly payment, that’s a good trade-off for saving money upfront for some borrowers. For others, higher monthly payments are to be avoided. If that describes you, avoid adding on to your loan wherever possible.