FHA LOANS · VIRGINIA, DC AND MARYLAND
The FHA loan was built for a fresh start.
Lower score. Small savings. Family helping out. An FHA loan looks at your whole story and we find the lender who reads it right.
No credit check to start.
You are in FHA territory if…
- Your credit score sits between 580 and 680
- You have saved less than 10% for a down payment
- A parent or relative wants to gift you money
- You had a bankruptcy or late payments a few years back
- You want a two to four unit home and plan to live in one unit
Licensed mortgage broker · NMLS 179997 · Vienna, Virginia office
THE PROBLEM
The rules are generous. Lenders are not.
An FHA loan is insured by the Federal Housing Administration, so lenders can approve buyers that banks often turn away. Each lender adds its own rules on top of the FHA rules. Those extra rules are where most buyers get stuck.
- A bank sets its own credit score floor at 640, far above the FHA minimum
- Gift money gets flagged because nobody set up the paper trail early
- The condo you love is not FHA approved and nobody checked
- Mortgage insurance gets quoted wrong, so the payment jumps at closing
- One late payment two years ago becomes a reason to say no
WHO IT FITS
Which one of these is you?
Most FHA buyers fit one of these six stories.
01 · LOWER SCORE
“A bank said my score was too low”
An FHA loan works with scores as low as 580. We send your file to lenders who use that floor, not a higher one of their own.
02 · GIFT MONEY
“My parents are helping with the down payment”
Your whole down payment can be a gift from family. We set up the gift letter and the bank trail before you make an offer.
03 · FRESH START
“I had a bankruptcy a few years ago”
FHA can approve you two years after a Chapter 7 discharge. We show the lender how you rebuilt since then.
04 · HIGH DEBT
“My student loans make my ratio look bad”
FHA can accept higher debt ratios when your income is steady. We check which payment each lender will count.
05 · HOUSE HACK
“I want a duplex and rent the other half”
FHA covers two to four unit homes when you live in one unit. Rent from the other units can help you qualify.
06 · FIRST HOME
“This is my first home and my savings are thin”
Pair FHA with state down payment help. See all of our first time home buyer loans.
THE COST
Small down payment. Insurance is the trade.
Every FHA loan carries FHA mortgage insurance. You pay 1.75% of the loan up front, usually added into the loan, plus about 0.55% a year inside your monthly payment for most buyers. That is the price of the easier approval.
The down payment
With a credit score of 580 or higher, your down payment is 3.5%. On a $400,000 home that is $14,000. Scores from 500 to 579 need 10% down.
Closing costs
The seller can pay your closing costs, up to 6% of the price.
How long the insurance lasts
Put less than 10% down and FHA mortgage insurance stays for the life of the loan. Put 10% or more down and it ends after 11 years. Many owners later refinance into a conventional loan once they reach 20% equity.
How much you can borrow
The 2026 FHA loan limit is $1,249,125 for a one unit home across Northern Virginia, DC and the Maryland counties near DC. Limits are lower elsewhere in Virginia.
OUR PART
A bank has one answer. We have several.
SAI Mortgage is a mortgage broker, not a bank. We compare FHA lenders and send your file to the one whose rules fit your story. That choice decides your rate, your approval and your closing date.
01
We start with the lowest score floor
Many lenders stop at 620 or 640. We begin with the lenders that go down to 580.
02
We build the gift trail first
Gift letter, donor bank statement and transfer record are done before you write an offer.
03
We check the condo before you fall for it
We look up the building on day one. See how FHA condo approval works.
04
We put the insurance in your number
Your quote shows principal, interest, taxes, insurance and FHA mortgage insurance. The number you see is the number you pay.
HOW IT WORKS
Three steps. That is it.
You can start with a phone call and no formal credit check.
01
Tell us how you get paid
Pay stubs and W2s work. So does a written verification of employment from your employer. We tell you what to send.
02
We shop it for you
We compare FHA lenders and come back with one clear quote and a closing date.
03
You get the keys
We handle the appraisal, the conditions and the closing with your agent.
WHERE WE LEND
Licensed in Virginia, DC and Maryland.
We work from our Vienna office and close loans across all three.
Northern Virginia
Maryland
Washington, DC
STRAIGHT ANSWERS
What people ask us first.
What are the FHA loan requirements?
You need a credit score of at least 580 for 3.5% down, steady income for about two years and a home you will live in. Your debts must fit your income and the home must pass an FHA appraisal. Read our full guide to FHA loan requirements.
Is an FHA loan only for first time buyers?
No. Anyone can use an FHA loan for a home they will live in. You can use it again after you sell.
Can I use an FHA loan for a condo?
Yes, if the building is FHA approved or the unit gets its own approval. We check before you make an offer.
Is FHA or conventional cheaper?
With strong credit and more money down, a conventional loan often costs less over time because its insurance can come off. With a lower score, FHA often wins on the monthly payment. See FHA vs conventional.
How long does an FHA loan take to close?
Most FHA purchases close in about 30 to 45 days. The appraisal sets the pace, so we order it as soon as your offer is accepted.
Can I buy a fixer upper with FHA?
Yes. FHA has a renovation version that adds repair costs to the loan. See our renovation and construction loans.
NEXT STEP
Bring your story. We find the FHA lender.
Send your pay stubs or just call. We will tell you what you qualify for and which lender fits.
THE SHORT VERSION
- FHA works with scores from 580 and down payments from 3.5%.
- Mortgage insurance is the cost. Many owners refinance later to drop it.
- The lender matters more than the program. We compare lenders for you.
SAI Mortgage, Inc. NMLS 179997. Licensed in Virginia, DC and Maryland. 8000 Towers Crescent Dr, Suite 210, Vienna, VA 22182. This is not a commitment to lend. All loans are subject to credit approval, property approval and program guidelines. Rates, terms and programs can change without notice. Equal Housing Opportunity.