What is it?

An FHA loan is a Federal Housing Administration loan which offers lower credit requirements and lower down payment options than other types of loans. We also provide an FHA Streamline refinance product for homeowners with existing FHA mortgages.

Who is it for?

FHA loans are for people who put down less than a 20% down payment or may not qualify for other types of loans. FHA loan properties must be owner-occupied.

What are the benefits?

With an FHA loan come lower down payments, greater credit allowances, and streamlined refinance benefits.

Loan details

An FHA loan is a Federal Housing Administration loan which offers lower credit requirements and lower down payment options than other types of loans.


Program features:

  • 3.5% down payment on purchase transactions
  • Down payment may be comprised of all gift funds
  • Non-occupying co-borrowers allowed
  • Loans can be used in conjunction with eligible government down payment assistance programs
  • Non-traditional credit allowed
  • Property must be owner-occupied
  • Refinancing features for homeowners with an existing FHA loan include:
    • No appraisal required
    • No verification of employment or income
    • Minimum credit score of 660

Loans subject to credit and collateral approval. Not all loan programs are available in all states for all loan amounts. Restrictions may apply. Terms and conditions subject to change. Union Bank NMLS ID #539249.