Yes, you can include a co-borrower on your FHA loan. At least one borrower must live in the home as their primary residence. A co-borrower may help you qualify more easily, depending on your financial situation. To qualify for the 3.5% down payment, the co-borrower must be a family member, such as a parent, spouse, child, sibling, grandparent, aunt, uncle, or in-law.

Yes, you can choose to make a larger down payment. Doing so can lower your monthly mortgage payment. Alternatively, you can use the funds for closing costs instead. We’ll help you decide the best approach for your situation.

No, FHA loans are available to both first-time and repeat homebuyers. You can also use an FHA loan to refinance your current mortgage.

FHA loans typically offer lower interest rates than conventional mortgages because they are government-backed. Your specific rate will depend on factors like your financial history, loan amount, down payment, and other criteria.

Yes, you may be able to use certain types of down payment assistance programs with an FHA loan. Our Home Loan Experts can help determine what you qualify for.

FHA loans offer several refinancing options:

• FHA Simple Refinance: For existing FHA loan holders looking to lower their interest rate or monthly payment, or switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan.
• FHA Streamline Refinance: Available to current FHA loan holders, this option typically doesn’t require an appraisal or extensive credit checks.
• FHA Cash-Out Refinance: Allows you to take out a new, larger mortgage and receive the difference in cash.

Learn more about FHA refinancing options to find the best fit for your needs.