As low as 580 credit score can qualify for 96.5% financing (just 3.5% down).

Allows higher debt-to-income ratios compared to many other programs.

Flexible guidelines — ideal for first-time homebuyers or those with past credit challenges.

Accepts non-traditional credit for borrowers without a typical credit history.

Allows for manual underwriting in certain cases that make sense but don’t fit automated approval.

Must be a primary residence (not for investment or vacation homes).

Includes upfront mortgage insurance (UFMIP) and monthly mortgage insurance, even after reaching 20% equity.

Eligible for streamline refinances at a fraction of the cost, with less documentation required.

Backed by the Federal Housing Administration (FHA) — designed to help more buyers achieve homeownership.

Recent rule changes: currently only available to U.S. citizens and certain eligible non-citizens.