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FHA loan

Rely on NewCastle Home Loans for a more affordable and less complicated FHA mortgage. 

Get your offer accepted
Lower rate and monthly payment
icon down payment
Small down payment of 3.5% of the purchase price
icon credit score 3
Easier approval - credit score of 580 or higher
Estimate your monthly payment based on current FHA mortgage rates. Then, see how much buying a home will cost so you can start planning.
 
icon 1  Enter the basics.
icon 2  Compare rates and payments.
icon 3  Personalize to see all the details.

View current rates


FHA mortgage rate

See how the FHA 30-year fixed-rate mortgage has performed recently.
 

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Ask questions, get straight answers, and find out how to start on your home loan.

Property type FHA loan limits 2023
Single family, condominium, or townhome
$472,030
2-unit, multi-family home
$604,400
3-unit, multi-family home
$730,525
4-unit, multi-family home
$907,900

 


The FHA loan limits for 2023 apply to homebuyers in Illinois, Indiana, and Michigan. 

FHA loan limits are higher in several counties in Florida and Tennessee.


Down payment for FHA loan

Buy a 1-to-4 unit home with a down payment of only 3.5% of the purchase price. Homeownership can be surprisingly affordable and simple.
Property type Minimum down payment as a percent of the purchase price
1-to-4 units: single-family, condo, townhome, or multi-famly home
3.5%

 


 


FHA loan credit score

Get the financing you need to purchase now, even if you have a few bumps in your credit history. 
  • Lower credit score requirements - 580 or higher
  • Shorter waiting period after a major event such as a foreclosure
  • Easier to qualify with debt, such as student loans and credit cards

 


NewCastle Home Loans is a U.S. Department of Housing and Urban Development Approved Lending Institution, 2074900006.

Can I get a mortgage with student loans?

How long is the waiting period after bankruptcy?

Do I need to pay off collections to apply for an FHA loan?


Your home loan starts with a verified pre-approval.

A powerful pre-approval letter from NewCastle Home Loans improves your likelihood of winning the deal.

Frequently asked questions about FHA loans


See home much buying a home will cost.

View the current interest rate and monthly payment for an FHA loan.