FHA Home Loans · CA & TX

Your First Home
Is Closer
Than You Think.

Q: How much do I need for a down payment on an FHA loan?

FHA loans require as little as 3.5% down if your credit score is 580 or higher. If your score is between 500 and 579, you generally need 10% down. On a $400,000 home, 3.5% is $14,000. The down payment can come from your own savings or from gift funds.

Q: What credit score do I need for an FHA loan?

FHA is one of the more forgiving programs. Most lenders allow 3.5% down with a score of 580 or higher, and FHA technically permits scores as low as 500 with 10% down, though many lenders set their own higher minimums. FHA is also more lenient than conventional on past credit events.

Q: What is FHA mortgage insurance (MIP), and how much does it cost?

FHA loans carry two mortgage insurance premiums. The upfront premium (UFMIP) is 1.75% of the loan amount, paid once and usually rolled into the loan. The annual premium is most commonly 0.55% per year, divided into your monthly payment. These rates are set by HUD and can change.

Q: Does FHA mortgage insurance ever go away?

It depends on your down payment. If you put less than 10% down, the annual premium stays for the life of the loan. If you put 10% or more down, it drops off after 11 years. The most common way to remove it sooner is to refinance into a conventional loan once you have roughly 20% equity.

Q: FHA or conventional — which loan is better for me?

FHA tends to win when your credit is lower or your down payment is small, because it is more forgiving on both. Conventional often wins with stronger credit or a larger down payment, since its mortgage insurance can be cancelled at 20% equity while FHA's usually cannot. The right answer depends on your numbers, which Robert compares side by side.

Q: Can I use gift funds for my down payment?

Yes. FHA allows your entire down payment to come from a gift, as long as it is from an acceptable source such as a family member and properly documented with a gift letter and a paper trail. This is one reason FHA works well for first-time buyers who have help from family.

Q: Can the seller help pay my closing costs?

Yes. With an FHA loan the seller can contribute up to 6% of the sales price toward your closing costs, which can sharply reduce the cash you need at the table. Whether a seller agrees is a negotiation your Realtor handles.

Q: Can I get an FHA loan after a bankruptcy or foreclosure?

Often, yes. FHA is generally available again after a waiting period following a bankruptcy or foreclosure — typically a couple of years, and sometimes shorter with documented extenuating circumstances. Rebuilding steady credit and payment history in the meantime matters most. Robert can review where you stand.

Q: What is the difference between an FHA streamline and a cash-out refinance?

An FHA streamline refinance lowers the rate on an existing FHA loan with minimal paperwork and often no new appraisal. An FHA cash-out refinance lets you tap home equity for cash, up to 80% of your home's value, and is underwritten more fully like a new loan.

Q: Is there a limit on how much I can borrow with an FHA loan?

Yes. FHA sets maximum loan amounts that vary by county, with higher limits in higher-cost areas, which matters across much of California. Robert can confirm the current limit for the county you are buying in.

For most first-time buyers, the hardest part of buying a home isn't the monthly payment — it's coming up with the down payment and the worry that their credit isn't "good enough." The FHA loan was built for exactly that gap. With as little as 3.5% down, flexible credit standards, and the ability to use gift funds from family, it turns "someday" into a real, fundable plan. We'll show you precisely what you qualify for before you ever set foot in an open house.

3.5% Down Credit From 580 First-Time Friendly Gift Funds OK Seller Can Help CA & TX Licensed

No credit pull to start · No obligation · Robert reviews every file personally

FHA at a Glance

The 5-Minute Mortgage Application

Fast · Simple · Secure

Start in 5 minutes — Robert handles the rest

Down Payment

3.5%

Min. with 580+ credit

Min. Credit

580

For 3.5% down

Upfront MIP

1.75%

One-time, financeable

Annual MIP

0.55%

Per year, paid monthly

MIP rates are set by HUD and may vary by loan term and amount. Not a commitment to lend. NMLS Consumer Access

The Path to Your First Home

Here's Exactly How It Works — Step by Step

No mortgage jargon, and no assumptions about what you already know. This is how buying a home with an FHA loan actually happens, explained the way a friend would explain it.

Step 01

We Talk Through Your Situation

Before numbers, we want to understand you — your income, what you've saved, where your credit stands, and the kind of home you're hoping for. Nothing is too basic to ask. This is where it starts.

Think of this as a no-pressure conversation, not an interview.

Step 02

We See If FHA Is Your Best Fit

FHA shines when your credit is still growing or your savings are thin — 3.5% down, flexible credit, gift funds allowed. But it isn't always the cheapest path. We compare it honestly against a conventional loan so you choose with the full picture, not a sales pitch.

Sometimes FHA is clearly the move. Sometimes conventional wins. We tell you which, and why.

Step 03

Pre-Approval — What It Actually Means

A pre-approval is a real review of your income and credit, ending in a written letter confirming how much you're approved to borrow. It tells sellers you're serious and gives your offer real weight in a competitive market.

Pre-approval commits you to nothing. It's simply your green light to shop with confidence.

Step 04

You Shop — We Stay Ready

Once pre-approved, your Realtor takes the lead finding homes. We stay ready in the background — updating your letter for specific offers, and helping you structure things like gift funds and seller-paid closing costs so you keep more cash in your pocket.

FHA lets the seller cover up to 6% of closing costs — a real lever your Realtor can use.

Step 05

Offer Accepted — Robert Takes It From Here

Once your offer is accepted, we order the FHA appraisal, finalize your loan, coordinate with title, and keep everything moving toward closing. You'll always know exactly where things stand.

This is why you have Robert personally managing your file — not a call center, not a processor you've never spoken to.

Step 06

Closing Day — You Get the Keys

You sign the final documents, funds are wired, and the title records in your name. We walk you through exactly what to expect beforehand so there are no surprises at the table.

The whole process typically takes 21–45 days from accepted offer to keys in hand.

FHA Affordability Estimator

What Can You Comfortably Afford?

Slide to your numbers — results update instantly. No personal information required, no credit pull.

Gross monthly income

$2,000 $8,500 / mo $25,000

Wages, self-employment, and other documented income

Monthly debt payments

$0 $450 / mo $3,000

Car, student loans, credit cards

Down payment

$0 $15,000 $200,000

FHA minimum is 3.5% of the price; 10%+ down ends MIP sooner

Estimated interest rate

3% 6.5% 10%

Robert confirms your actual rate after review

Price range

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Loan amount

—

Upfront MIP

—

% of loan

Monthly MIP

—

0.55%/yr

Est. total payment

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Adjust the sliders above to see your estimated range.

Estimate uses general affordability guidelines (FHA commonly uses about 31% housing and 43% total debt-to-income, with flexibility for stronger files). FHA charges two mortgage insurance premiums: a one-time upfront premium of 1.75% (rolled into the loan) and an annual premium, most commonly 0.55%, paid monthly and included in the total above. Both are percentages of the loan, so their dollar amounts rise with the loan size, not your rate. With less than 10% down, the annual premium lasts the life of the loan; with 10% or more, it ends after 11 years. Taxes and insurance estimated at 1.75% annually. MIP rates are set by HUD and are subject to change. Actual qualification depends on credit and FHA guidelines. Not a commitment to lend.

The FHA Loan Family

One Program, Four Ways to Use It

FHA isn't only for buying your first home. Here are the four programs it powers — in plain language, so you walk into the conversation already informed.

What First-Time Buyers Ask Before They Start

Plain answers about the down payment, mortgage insurance, credit, and how FHA actually works — no jargon, no runaround.

How much do I need for a down payment on an FHA loan?▾

What credit score do I need for an FHA loan?▾

What is FHA mortgage insurance (MIP), and how much does it cost?▾

Does FHA mortgage insurance ever go away?▾

FHA or conventional — which loan is better for me?▾

Can I use gift funds for my down payment?▾

Can the seller help pay my closing costs?▾

Can I get an FHA loan after a bankruptcy or foreclosure?▾

What's the difference between an FHA streamline and a cash-out refinance?▾

Is there a limit on how much I can borrow with an FHA loan?▾

Ready When You Are

Your First Home Is Within Reach —
It Takes About 5 Minutes

No portal maze. No commitment. No credit pull until you're ready to move forward. Robert personally reviews every application and follows up within 24 hours — usually the same day.

No credit pull to start · No obligation · Licensed in California & Texas

Your Loan Originator

Robert Sumlin

Robert Sumlin is a licensed Mortgage Loan Originator, with loans originated through Equity Smart Home Loans (Licensed Mortgage Broker). Licensed in California and Texas, Robert helps first-time and move-up buyers use FHA financing to purchase and refinance — FHA purchase, streamline refinance, cash-out, and 203(k) renovation loans.

Brokering independently, Robert isn't locked into one lender's rates or products. He shops the market on your behalf and manages your file personally from application to closing — no call centers, no transferred files, no surprises at the table.

NMLS

#1530065

Licensed

CA & TX

Broker

Equity Smart Home Loans

Broker NMLS

#856170 · DRE #01906808

Get in Touch

Phone: (951) 426-7300

Email: [email protected]

Schedule:

Apply:

Your First HomeIs CloserThan You Think.