Residential FHA Loans

Considering a non-conventional loan for your next home? When it comes to Federal Housing Administration (FHA) residential mortgages, BayFirst has you covered.

Make Yourself At Home With An FHA Loan

Because these loans are insured by the FHA, they generally involve lower down payments and credit requirements making them a great option for first-time buyers and those with hardships in their financial history. However, borrowers will be required to pay an upfront mortgage insurance, and monthly mortgage insurance payments going forward.

With an FHA loan from BayFirst, you can:

Qualify with lower credit scores compared to conventional loans
Put less toward your down payment than you would with a conventional loan
Apply for closing cost credits

Why BayFirst?

At BayFirst, we’re Here for What’s Next^®, including your new address. But before you can turn the key, you’ll need to find the right mortgage. For more than 20 years, BayFirst’s expert mortgage lenders have been helping buyers like you find the best rates, terms, and loan types to get you moving into your home sweet home.

Talk to an expert

What's The Next Step?

Contact A Mortgage Expert

Unsure if a convention loan is your best option? We can help you weigh your options.
Get Preapproved

Easily apply online or in a banking center. Approval is fast and your funds are often available the same day.
Go Shopping

Stay within your preapproved limit, keeping in mind closing costs, inspections and other additional fees associated with buying a home.
Lock In A Rate

Once you’ve found the home you want, you’ll lock in a rate as the application is processed.
Move In

After the application process is complete, you’re clear to close, grab the keys and move on in.

Gather your income history, debt information, social security number and bank statements. Still on the fence or need more details?

Talk to a lender today

Residential FHA FAQ

Talking to a lender about your options and going through a preapproval process will determine if you qualify and what amount you qualify for.

Though you can typically qualify for an FHA home loan with a lower credit score than what is required for a conventional loan, it does come with strings attached, including personal mortgage insurance payments and approval is not solely based on credit score. Most lenders will require a down payment of as little as 3.50%

The average FHA loan takes roughly one month to 45 days to close, but with the right experts working for you, you could close in as little as three weeks.

Have More Questions?

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Residential FHA Loans

Considering a non-conventional loan for your next home? When it comes to Federal Housing Administration (FHA) residential mortgages, BayFirst has you covered.

Make Yourself At Home With An FHA Loan

Why BayFirst?

What's The Next Step?

Contact A Mortgage Expert

Get Preapproved

Go Shopping

Lock In A Rate

Move In

Gather your income history, debt information, social security number and bank statements. Still on the fence or need more details?

Residential FHA FAQ

Do I qualify for an FHA loan?

What are the requirements for an FHA loan?

How long does an FHA loan take to close?

Have More Questions?