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Indy Mortgage Team
  • Apply Now
  • Meet the Team
  • Loan Programs
    • FHA Loan
    • Conventional Loan
    • USDA Loan
    • VA Loans
    • Refinance
  • Contact

FHA Home Loans

An FHA loan is a popular loan program for first-time homeubyers and those who haven't saved as much for their down payments.

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Happy family with an FHA home loan

Why use an FHA home loan?

Lower down payment

Lower down payment.

Haven’t been able to save 20% for a down payment? Then the FHA loan might be right for you. Qualified borrowers with this program owe as little as 3.5% down.

flexible credit guidelines

Flexible credit guidelines.

A perk of FHA loans is the flexible credit score requirement. This loan program is more flexible than others making it a great option for first-time homebuyers.

Covered closing costs

Covered closing costs.

Good news! Closing costs can be covered with the FHA loan. Instead of the borrower paying all of the fees, the home sellers, lenders, and builders can cover some of the costs.

approved FHA lender

Approved FHA lender.

The Federal Housing Administration does not lend directly to borrowers. Instead, it relies on vetted and approved mortgage lenders to assist borrowers with FHA financing.

Steps to an FHA loan.

This lets you know the estimate loan amount you’ll be eligible for and gets the ball rolling on your homebuying process. 

We're with you every step of the way! Together, we'll assess your situation, connect you with the right loan program, and walk you through the entire process.

The closing process may seem like a long way away, but together we'll get there! And, after you've signed your paperwork, you'll have the keys to your new home. 

Indy Mortgage Team Mortgage Express App

Have a question? Send us a message.

Contact us using the form below and one of our mortgage consultants will respond to you shortly.

Frequently asked FHA questions.

How much do I need for an FHA loan down payment in Indianapolis?

Your down payment will partially depend on your credit score.

The higher your credit score, the lower your down payment can be. The minimum down payment for an FHA loan, however, is 3.5%.

The higher your down payment, the less interest you’ll pay over the life of your loan and less you’ll pay month to month.

Are there FHA loan limits?

The Federal Housing Administration changes the loan limit that it will insure each year.  

The maximum, also known as the ceiling, and the minimum, also known as the floor, vary according to the cost of the area. To learn more about the limits in Indianapolis, talk to us! 

Do I have to pay mortgage insurance with an FHA loan?
This depends on your down payment.  

If your down payment is less than 20%, then you’ll most likely need to pay PMI. It's always best to ask your Mortgage Consultant about options and payments.
 
How do I start the FHA loan process in Indianapolis?

Start by applying for pre-approval with us today! 

Ready to start your FHA loan application?

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