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The FHA loan is a great product with unique features for those looking to purchase or refinance a home.

The FHA Loan

The FHA loan is insured by the Federal Housing Administration and has flexible lending requirements. It is a great product for those with limited down payment or previous credit challenges.


Flexible Underwriting

Lower down payments

Favorable terms


Loan Limits

$331,760 – $517,500

The limits on an FHA loan differ by county.

Loan to Value

Up to 96.5%

The FHA loan can be used to finance up to 96.5% of the home’s appraised value, meaning a minimum down payment of 3.5% is required.

Credit Score

640 or higher

The minimum credit score is 640. If your credit score is on the lower end, you may need a larger down payment.


Fixed: 15, 30

The terms of the FHA loan is more limited than a conventional loan, but there are still options to find something that works for you.

Mortgage Insurance

.45% – 1.05%

Annual mortgage insurance is dependent on the loan term, loan amount, and initial loan-to-value ratio.

Funding Fee


The upfront funding fee is 1.75% of the loan and can be rolled into the financed loan amount.

Additional Details

The FHA loan can be done for purchase transactions, rate/term and cash-out refinances. This loan allows for higher debt-to-income ratios than traditional financing allow.

The monthly mortgage insurance is required and will remain on the loan for the term of the mortgage.



10151 SE Sunnyside Rd #220
Clackamas, OR 97015

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© Copyright 2021 Root Mortgage is a division of Root Executives, LLC NMLS 1830982 Oregon License # ML-5796 Washington License # CL-1830982. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity.

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