What is an FHA loan?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration, designed to make homeownership accessible to more buyers. Because the FHA insures the loan, lenders can offer more flexible qualifying guidelines than many conventional programs — which is why FHA is one of the most popular choices for first-time buyers in Wichita and across Kansas.
The headline benefits are a low minimum down payment (as little as 3.5% for qualified buyers) and more forgiving credit requirements, making it a realistic path for buyers still building credit or without a large down payment saved. The down payment can even come from an eligible gift.
FHA loans do require mortgage insurance and have property and loan requirements, so it’s worth comparing FHA against conventional and other options to see which is truly best. That’s exactly what we’ll help you do — free, and with no pressure.
Why buyers choose FHA Loans
As Little as 3.5% Down
Qualified buyers can put down just 3.5% — and gift funds from family are allowed. Subject to eligibility.
Flexible Credit Guidelines
FHA is more forgiving on credit than many conventional loans, a realistic path if you’re still building your score. Subject to underwriting.
Great for First-Time Buyers
The low down payment and flexible guidelines make FHA one of the most popular first-time programs in Kansas.
Gift Funds Allowed
Your down payment and closing costs can come from an eligible gift, so you don’t have to save every dollar yourself. Subject to guidelines.
You might be a great fit if…
FHA loan basics
Down Payment
As little as 3.5% down for qualified buyers, and gift funds are allowed. Subject to eligibility.
Mortgage Insurance
FHA loans include upfront and annual mortgage insurance premiums that are part of the payment. We’ll explain exactly how it works for you.
Property Requirements
The home must be your primary residence and meet FHA property standards, confirmed by an appraisal.
Getting Approved
We review your credit, income, and goals and give you a real answer — often the same day. Subject to underwriting.
See what an FHA loan might cost per month
Enter a home price to see an estimated monthly payment. Educational estimate only — not a quote or an offer.
Important: Illustrative estimate for educational purposes only — not a loan offer, rate quote, pre-qualification, or commitment to lend. The sample rate is not an offered rate; FHA loans include mortgage insurance; actual rates change daily and depend on your credit, down payment, loan program, and property. Principal and interest only — taxes, insurance, HOA, and mortgage insurance are not included and will increase your payment. Not all applicants qualify. All loans subject to credit approval, income verification, appraisal, and underwriting. Equal Housing Lender.
Ready to see your real numbers? A licensed loan officer will walk you through it — no obligation.
Common questions
How much do I need down for an FHA loan?
Qualified buyers can put down as little as 3.5% of the purchase price, and it can come from an eligible gift. The exact amount depends on your credit and the property, subject to underwriting. We’ll give you a precise figure when we run your scenario.
Can I get an FHA loan with lower credit?
FHA is designed to be more flexible on credit than many conventional programs, so it’s often a realistic option for buyers still building their score. Approval depends on your full financial picture, subject to underwriting.
Do FHA loans require mortgage insurance?
Yes. FHA loans include an upfront premium and an annual premium paid monthly, which make the flexible terms possible. We’ll show you exactly how it factors into your payment.
Can I use an FHA loan as a first-time buyer?
Absolutely — FHA is one of the most popular first-time buyer programs because of the low down payment and flexible guidelines. You don’t have to be a first-time buyer to use it, but it’s an excellent fit.
Is an FHA loan better than a conventional loan?
It depends on your credit, down payment, and goals. FHA shines for lower down payments and flexible credit; conventional can be better with stronger credit or to avoid long-term mortgage insurance. We compare both for you at no cost.
See if an FHA loan is right for you
Get a real, personalized answer from a licensed loan officer — usually the same day. All loans subject to credit and underwriting approval.