FHA 203(b) Mortgage Insurance
U.S. Department of Housing and Urban Development (HUD)
Loan up to FHA limits (varies by county); 3.5% down with 580+ FICO
Overview
Low down payment FHA-insured loan — the workhorse first-time buyer program with just 3.5% down.
Detailed requirements
FHA insures the loan, allowing lenders to offer better terms. 3.5% down payment with credit score of 580+. Down payment can be a gift. Mortgage insurance required (UFMIP + monthly MIP). Loan limits vary by county. Property must pass FHA appraisal.
Eligibility at a glance
- Min credit score
- 580
- Owner-occupied required
- Yes
- Property types
- single_family, condo, manufactured, 2-4_unit
Note: 10% down required for credit scores 500-579. Must be primary residence.
Ready to apply?
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Last verified 2026-09-02. Updated weekly. Always confirm details on the official program page before applying.