Proudly serving Ohio & Tennessee
What is an FHA Loan?
FHA loans are government-backed mortgages insured by the Federal Housing Administration. They're designed to make homeownership accessible to more Americans by offering lower down payment requirements and more flexible credit guidelines.
With down payments as low as 3.5% and credit scores starting at 580, FHA loans are an excellent choice for first-time homebuyers and those with less-than-perfect credit.
Key FHA Facts
FHA Loan Benefits
Down Payment as Low as 3.5%
One of the lowest down payment options available for homebuyers
Credit Scores as Low as 580
More flexible credit requirements than conventional loans
Competitive Interest Rates
FHA loans often offer rates comparable to conventional loans
Seller Can Pay Closing Costs
Sellers can contribute up to 6% of the sale price toward your costs
Gift Funds Allowed
Use gift money from family for your down payment
1-4 Unit Properties
Finance single-family homes up to 4-unit properties
FHA Loan Requirements
Qualification Criteria
FHA vs. Conventional
| Feature | FHA | Conventional |
|---|---|---|
| Down Payment | 3.5% | 3-20% |
| Credit Score | 580+ | 620+ |
| Upfront Insurance | 1.75% MIP | None |
| Monthly Insurance | For life of loan | Removable at 20% |
| Debt-to-Income | Up to 43%+ | Up to 45% |
| Loan Limits (2024) | $498,257 | $766,550 |
FHA Loans in Ohio & Tennessee
Ohio Markets
Serving first-time and repeat homebuyers in:
Hudson, New Albany, Dublin, Upper Arlington, Strongsville, Mason
Tennessee Markets
Serving first-time and repeat homebuyers in:
Brentwood, Franklin, Germantown, Collierville, East Memphis
Get Started
See If You Qualify for an FHA Loan Today
FHA loans are one of the most forgiving programs available — but qualification still depends on your specific situation. Kimble will review your credit, income, and savings to find the exact program and lender that gets you approved and into your home.
See If You Qualify for an FHA Loan
Low down payment, flexible credit — find out if FHA is right for you.
Frequently Asked Questions
Ready to Start Your FHA Loan Journey?
Let's explore how an FHA loan can help you achieve homeownership.
Karinzo Smith NMLS #2652699 | NEXA Mortgage LLC NMLS #1660690