FHA insurance supports loans made by participating lenders. It can be worth comparing when credit history or available cash makes conventional financing less attractive. The insurance, loan limits, and property requirements are part of the cost comparison.
Qualification
Review credit history, documented income, debts, down payment sources, and primary-residence plans. County loan limits and lender requirements apply.
Insurance and closing costs
Include applicable upfront and ongoing mortgage insurance, not just the note rate. The duration of insurance depends on the loan terms and applicable rules; do not assume it disappears at 20% equity.
Compare before choosing
Ask for an FHA and conventional comparison when both are possible. Evaluate cash to close, full payment, insurance, balance, and costs over your expected ownership period.
Explore the program guides
FHA Purchase Loans
Explore an FHA-insured mortgage for an eligible primary residence.
Read the guide ↗FHA Streamline Refinance
Discuss a streamlined refinance path for an existing FHA mortgage.
Read the guide ↗FHA Cash-Out Refinance
Review whether replacing your mortgage and drawing eligible equity fits your goals.
Read the guide ↗Before we compare options
- Your purchase price or current loan statement and estimated value.
- Income sources, recurring debts, occupancy, and available funds.
- Your preferred payment range and expected ownership timeline.
- Questions about insurance, points, assistance, or payoff terms.
Common questions
Is the advertised minimum enough to qualify?
Not necessarily. Approval depends on the complete application, property, program, and lender requirements.
How should I compare this with another program?
Use consistent amounts and assumptions. Compare cash to close, full payment, insurance or program fees, remaining debt, and the expected time you will keep the loan.
Further reading & sources
Prepared by Aaron Clowes · NMLS #200900. Editorial sources checked October 27, 2026. Examples are hypothetical; actual costs, terms, eligibility, and program availability vary. This educational guide is not a rate quote or commitment to lend.