Ideal for first-time home buyers, buyers looking for a lower down payment option, and buyers with fair-to-good credit.
FHA loans are ideal for first-time homebuyers looking for a mortgage with low down payment options and more flexible credit and income requirements. MECU mortgage experts can guide you to the best mortgage option for your budget and lifestyle.
Get $1,000 off your closing cost, a great rate, and specal perks!
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Advantages of FHA Loans
- More lenient income and credit requirements
- Buy a home with a down payment as low as 3.5%
- Up to 100% of your down payment can be a gift from a family member or friend
- Required mortgage insurance is often tax deductible*
- We'll help you find homebuying grants and incentives that provide down payment assistance