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FHA Loans

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Have home financing questions ?

Is an FHA loan right for you?

FHA loans, secured by the Federal Housing Administration, are one of our most popular offerings, and for good reason. FHA loans allow for a small down payment, just 3.5%, and the qualification criteria permits a lower credit score than conventional loans. Currently, HomeStreet can consider applicants with credit scores of 580 or above.

For first-time homebuyers, FHA tends to be a realistic choice because of the low down payment requirement. Homebuyers using an FHA loan must pay Mortgage Insurance, but may be able to refinance to a Conventional loan once equity has increased and qualification criteria is met. 

FHA loan limits have increased, down payment requirements have been reduced, and changes have been made to the qualifying criteria, making these loans a good alternative for more borrowers than in the past. In short, for many homebuyers, an FHA loan may be a solid choice.

Features of an FHA loan include:

  • Down payments as low as 3.5%
  • More relaxed qualification guidelines than Conventional mortgages
  • FHA interest rates may be some of the lowest available
  • Parents are allowed to co-borrow with their child earning minimal or no income without being an occupant of the home
  • FHA 203(k) loans provide funds for a renovation along with the home purchase or refinance


All loans subject to approval.

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