OnlyWay Mortgage · FHA loans
FHA Loans in Georgia
FHA loans are insured by the Federal Housing Administration, which makes lenders more comfortable with smaller down payments and less-than-perfect credit. Credit requirements are more flexible than many buyers expect. It's a great fit for many first homes in Georgia.
However you like to decide, start here.
- 01Bottom line firstSkip ahead: book a complimentary consultation and get a written plan.Book your consultation
- 02Show me what's possibleSee if fha loans is the right fit for what you want next.Is it a fit?
- 03Walk me through itWhat we look at, step by step, so nothing catches you off guard.See the approach
- 04Give me the detailsCommon questions, answered plainly.Read the answers
Who it fits
A good fit when…
- First-time buyers with modest savings
- Buyers rebuilding their credit
- Buyers receiving gift funds from family for the down payment
- Buyers of a 1–4 unit home they will live in
How we work
The approach.
- 01Credit score and payment history
- 02Income and employment history
- 03Monthly debts compared with income
- 04Source of the down payment, including any gifts
- 05The home's appraisal and condition
Financing availability depends on the borrower, property, purpose, lender, program, and jurisdiction. All financing is subject to eligibility, underwriting, program guidelines, property review, and lender requirements. No approval, rate, term, savings, timeline, or closing result is guaranteed.
Questions
Plainly answered.
What credit score do I need for an FHA loan?
Under HUD's rules, a score of 580 or higher can qualify for FHA's maximum financing, and scores from 500 to 579 can still qualify with less financing. Lenders may also set their own higher minimums. We'll show you exactly what applies to you.
Can I use a gift for my down payment?
Yes. HUD allows the down payment to come from your own funds, a gift, or a combination, as long as it's properly documented.
Does an FHA loan have mortgage insurance?
Yes. FHA loans have an upfront mortgage insurance premium, which can be rolled into the loan, plus an annual premium that's included in your monthly payment.
Can I buy a rental property with FHA?
FHA loans are for a principal residence, the home you'll live in. It can be a 1–4 unit property, so some buyers live in one unit and rent the others.
Can you guarantee approval or a rate?
No. Every loan is subject to the lender's review of your credit, income, assets and the home, and rates change daily. We tell you honestly what looks realistic before you spend time or money.
Residential mortgage services are offered in Georgia only.
Residential mortgage
Verify licensing at NMLS Consumer Access. Equal Housing Lender.
Equal Housing Lender. Clients are never required to use an affiliated or suggested service provider. You are free to choose your own lender, closing attorney, inspector, insurer, and other providers.
The right way forwardstarts here.
A complimentary, private strategy session. You leave with your numbers, a market brief and a timeline, whether or not you work with us.