FHA Loans
what it is, and do you qualify?
Overcome credit & asset challenges to homeownership
FHA loans are a type of government loan widely used by first-time homebuyers and people with low-to-moderate incomes. FHA loans offer down payments options as low as 3.5%. They also require upfront and annual mortgage insurance premiums.
Ideally Suited for
Those with lower credit scores
Those with down payments of less than 20% of the purchase price
Loan Features
Easier to qualify for than a conventional conforming loan
Financing up to 96.5% of the purchase price
Down Payment Assistance Programs
Down Payment Assistance (DPA) Programs are first-time homebuyer programs typically offered by your county to assist you with the costs of purchasing a home in that county. Guild maintains one of the mortgage industry’s most extensive network of approved partner relationships with county housing offices nationwide.
Eligibility for DPAs is commonly based in part on income thresholds. However, in some high-cost housing areas, DPA eligibility may be based on factors other than income. DPA is commonly provided in the form of a loan or grant, which is secured as a lien against the property and often forgiven over time.
Ideally Suited for
First-time homebuyers
Those whose incomes fall below the area median income levels
Loan Features
The ability to increase buying power or buy a home in a shorter period of time
Potential to avoid mortgage insurance
Non-repayable grants up to the entire DPA loan amount