FHA Home Loans in Columbus, OH
Low down payment home loans perfect for first-time buyers and those with lower credit scores. Get into your dream home with as little as 3.5% down.
Unlock homeownership. Skip the stress.
Our FHA loans are designed specifically for first-time homebuyers and those with lower credit scores who want to achieve homeownership without the traditional lending barriers.
Low down payment
Get into your dream home with just 3.5% down, making homeownership achievable sooner.
Flexible credit requirements
Qualify with credit scores as low as 580, perfect for those rebuilding their credit.
Gift funds allowed
Family members can help with down payment and closing costs through gift funds.
Government backing
FHA insurance protects lenders, allowing for more flexible qualification criteria.
Everything you need to know about FHA loans
What is an FHA loan?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It's designed to help first-time homebuyers and those with lower credit scores achieve homeownership with more flexible qualification requirements.
FHA loan requirements
FHA loans require a minimum credit score of 580 for 3.5% down, or 500-579 for 10% down. You'll need steady employment history, debt-to-income ratio under 43%, and the home must be your primary residence.
FHA vs. conventional loans
FHA loans offer lower down payments (3.5% vs. 20%), more flexible credit requirements, and allow gift funds for down payment. However, they require mortgage insurance for the life of the loan and have stricter property condition requirements.
Who should consider an FHA loan?
How It Works
Apply Online
Fill out our quick online form with your basic information and financial details.
Speak with a mortgage expert
Discuss your financial goals with our mortgage expert and choose the best FHA program for you.
Complete everything online
Use document upload and e-sign capabilities to do everything online.
Get approved
We have streamlined the process to get you approved fast!
Close your loan
Simply e-sign your documents and close on your loan.
Benefits of FHA Loans
FHA loans offer unique advantages that make homeownership more accessible, especially for first-time buyers and those with limited savings or credit challenges.
Low down payment
Get into your dream home with just 3.5% down, making homeownership achievable sooner.
Flexible credit requirements
Qualify with credit scores as low as 580, perfect for those rebuilding their credit.
Gift funds allowed
Family members can help with down payment and closing costs through gift funds.
Government backing
FHA insurance protects lenders, allowing for more flexible qualification criteria.
💡 Frequently Asked Questions
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It allows borrowers to purchase a home with as little as 3.5% down payment and is designed to help first-time homebuyers and those with lower credit scores qualify for homeownership.
FHA loans are more flexible with credit scores. You can qualify with a credit score as low as 580 for the 3.5% down payment option, or 500-579 with a 10% down payment. This makes FHA loans accessible to many borrowers who might not qualify for conventional loans.
The minimum down payment for an FHA loan is 3.5% of the purchase price if your credit score is 580 or higher. If your credit score is between 500-579, you'll need a 10% down payment. This is significantly lower than the typical 20% required for conventional loans.
FHA loan limits vary by county and are updated annually. In Franklin County (Columbus), the 2024 FHA loan limit for a single-family home is $498,257. This limit is higher than many areas due to Columbus's median home prices.
Yes, FHA loans require both an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount and an annual mortgage insurance premium (MIP) that's paid monthly. The annual MIP typically ranges from 0.45% to 1.05% of the loan amount.
No, FHA loans are only for primary residences. You must live in the home as your main residence for at least one year after closing. FHA loans cannot be used for vacation homes, second homes, or investment properties.
Ready to buy your first home?
Get pre-approved for an FHA loan today — see how much home you can afford with just 3.5% down.