fha loans

Uncle Sam is here to help

An FHA loan is insured by the Federal Housing Administration, part of the federal government. These loans are typically the easiest mortgages to qualify for if you have less than perfect credit or have experienced some financial speed bumps. They were created during the housing crisis of the Great Depression and are still around today to help Americans get into a house and start building equity and wealth.

down payment

An FHA loan only requires a 3.5% down payment for borrowers with a credit score of 580. Lower credit scores are allowed but will often require larger down payments. Down payment assistance is possible.

mortgage insurance

The Federal Housing Administration insures all FHA loans. Therefore they collect an upfront mortgage premium of 1.75% of your loan at closing (can be rolled into the loan). Additionally they charge an annual premium around 0.85% that is paid monthly in 12 equal parts.

credit score

An FHA loan is ideal for any borrower that has less than perfect credit or has experienced any sort of financial speed bump. The qualification terms are the most flexible of all our programs offered.


FHA loans are offered in 15 or 30 year terms.

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Elliott Bowman

(206) 949-5563

NMLS # 1982189

CO License # 100517635

© 2022 Elliott Bowman LLC All Rights Reserved. Elliott Bowman NMLS# 1982189 CO License # 100517635  NMLS Consumer Access /  Legal Disclaimer – This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply. This site is not authorized by the Colorado Division of Real Estate.