FHA Loans

What are FHA loans?
 

FHA loans are mortgages that are insured by the Federal Housing Administration, so lenders like Foothill Federal Credit Union can offer a better deal to its members. Foothill Federal Credit Union currently offers a 30-year fixed FHA loan.

Who benefits from FHA loans?


FHA mortgage loans are especially beneficial for first-time home buyers, people who can't afford a conventional down payment or can't qualify for private mortgage insurance (PMI).

Less up-front funds needed


Coming up with a down payment is easier with an FHA loan!

• Down payments as low as 3.5 percent of your purchase price
• Gift funds accepted for 100 percent of the down payment (relatives can help you!)

Flexible qualifications


FHA loans are open to anyone who meets FHA credit qualifications, which are more flexible than those for conventional loans. For more information about qualifications, contact our home loans experts at 626.445.0950.

• Non-traditional credit, like rental history and references may be used
• No income limits
• Available on 1-4 unit properties
• Borrow up to $417,000

FHA loans are processed by CUSO Mortgage, Inc. under contract with Foothill CU to provide services.  CUSO Mortgage, Inc. is licensed by the California Department of Corporations under the California Residential Mortgage Lending Act – License Number 413-0584.