Product Detail - Single Person | Guild Mortgage

Federal Housing Administration (FHA) Loans

Overcome credit and asset challenges to homeownership

FHA loans are a type of government loan widely used by first-time homebuyers and people with low-to-moderate incomes. FHA loans offer down payments options as low as 3.5%. They also require upfront and annual mortgage insurance premiums.

Ideally Suited for

  • Those with lower credit scores
  • Those with down payments of less than 20% of the purchase price

Loan Features

  • Easier to qualify for than a conventional conforming loan
  • Financing up to 96.5% of the purchase price

 

Down Payment Assistance Programs

Down Payment Assistance (DPA) Programs are first-time homebuyer programs typically offered by your county to assist you with the costs of purchasing a home in that county. Guild maintains one of the mortgage industry’s most extensive network of approved partner relationships with county housing offices nationwide.

Eligibility for DPAs is commonly based in part on income thresholds. However, in some high-cost housing areas, DPA eligibility may be based on factors other than income. DPA is commonly provided in the form of a loan or grant, which is secured as a lien against the property and often forgiven over time.

Ideally Suited for

  • First-time homebuyers
  • Those whose incomes fall below the area median income levels

Loan Features

  • The ability to increase buying power or buy a home in a shorter period of time
  • Potential to avoid mortgage insurance
  • Non-repayable grants up to the entire DPA loan amount

 

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All loans are subject to underwriter final approval, terms and conditions may apply. Subject to change without notice. Always consult an Accountant or Tax Advisor for full eligibility requirements on tax deductions.

Home Loan Guide

Questions about the home buying process? Our Home Loan Guide has the answers you need to make smart decisions. Learn More

We stand behind our loans

"We can help you find solutions, with a personal touch.” - CEO, Mary Ann McGarry
  • Real people at your side to make the complex loan process simple
  • Hundreds of products and programs, especially for first-time homebuyers
  • Fast, responsive, in-house loan operations to get you funded on time