How do I qualify for an FHA loan with Better Mortgage?
FHA loans at Better Mortgage are only available to customers trying to purchase (not refinance) a home with a 30-year term. All FHA loans must be used to fund the purchase of a one or two-to-four unit primary residence, meaning no secondary or rental/investment properties are eligible. To qualify, borrowers must have a credit score of at least 580 and be able to make a minimum down payment of 3.5%. If there is a non-occupying co-applicant/co-borrower, the minimum down payment is 25%. Better Mortgage customers can only have one FHA loan product at a time, and all FHA loans require both upfront and monthly mortgage insurance payments. To find out how much you pre-qualify for, get started here.