FHA Home Loan
Saving for a large down payment or building a perfect credit score can put homeownership out of reach for years. We’re proud to help more people find a home of their own with accessible financing backed by the Federal Housing Administration (FHA).
Apply for a Home LoanBenefits of an Argent FHA Home Loan
Argent Credit Union is focused on making homeownership more accessible for first-time and repeat homebuyers alike. Our FHA mortgage loans offer unique benefits for eligible applicants.
Flexible Credit Requirements
Thanks to government backing, you can qualify for an FHA Home Loan even if your credit score is less-than-perfect.
Low Down Payment
Buy your home with a down payment as low as 3.5% of the purchase price, so you can become a homeowner sooner.
Gifted Funds Welcome
You can use money given to you from family or other eligible sources to cover your down payment or closing costs.
Terms to Suit Every Budget
As a member-owned credit union, we work closely with applicants to help ensure every home loan we offer fits both your budget and your long-term financial goals.
FHA Home Loan Details
Argent Credit Union works with the Federal Housing Administration to offer affordable home loans with down payments as low as 3.5%. Our FHA loans offer more flexible credit requirements, making it easier to qualify, and a co-applicant can help strengthen your application, even if they won’t be living in the home.*
First-time homebuyers, repeat buyers, and borrowers with less-than-perfect credit may all apply for the FHA Home Loan program.
Key features:
- Down payments as low as 3.5%
- Flexible credit qualification standards
- Gifted funds may be used for your down payment or closing costs
- Non-occupant co-applicants may help you qualify
- No reserve requirements for one-unit or two-unit properties
- Wide range of mortgage types and terms available
FHA loans require an upfront and annual Mortgage Insurance Premium (MIP), and your new home must meet FHA appraisal guidelines.
Apply for your FHA Home Loan with Argent Credit Union today. Click below to get started.
Mortgage Resources
Home Loan Calculators
Estimate your monthly payment and explore how different rates and terms impact your budget.
Mortgage FAQs
Get answers to common questions about adjustable-rate mortgages and the home loan process.
Understanding Credit Tutorial
Learn how your credit score affects your mortgage options and how to improve it.
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– Lionetta K., North Chesterfield, VA
FHA Loan FAQ
What do I need to qualify for an FHA loan?
FHA loans are designed to be more accessible than conventional mortgages, especially for first-time buyers. To qualify, you’ll generally need a credit score of at least 600 to put down as little as 3.5%. If your score falls between 500 and 599, you may still qualify with a 10% down payment. You’ll also need steady, verifiable income and proof of employment, a debt-to-income ratio that fits FHA guidelines, and the home must be your primary residence. One of our mortgage loan officers can review your situation and confirm what you qualify for.
Is there a limit on how much I can borrow with an FHA loan?
Yes. The FHA sets maximum loan amounts that vary by county and property type, and they’re updated each year. For 2026, the limit for a single-family home in most areas is $541,287, and it can be higher in designated high-cost areas. Because limits depend on where you’re buying, it’s a good idea to confirm the current figure for your area with one of our mortgage loan officers before you start house hunting.
How much do I need for a down payment on an FHA loan?
One of the biggest advantages of an FHA loan is the low down payment. If your credit score is 600 or higher, you can put down as little as 3.5% of the purchase price. Borrowers with scores between 500 and 599 will need to put down at least 10%. You can also use gifted funds from an eligible source or an approved down payment assistance program to help cover the cost, which makes it easier to get into your home sooner.
Do I have to pay mortgage insurance on an FHA loan?
Yes. All FHA loans require a mortgage insurance premium (MIP), which protects the lender if a loan isn’t repaid. There are two parts: an upfront premium of 1.75% of the loan amount, which can be rolled into your loan balance, and an annual premium that’s divided into your monthly payments. If you put down less than 10%, MIP typically stays for the life of the loan. If you put down 10% or more, it can usually be removed after 11 years. Many borrowers start with an FHA loan and later refinance to a conventional loan once they’ve built enough equity to drop mortgage insurance.
What’s the difference between an FHA loan and a conventional loan?
The main difference comes down to flexibility versus long-term cost. FHA loans are backed by the Federal Housing Administration, which lets us offer lower credit score minimums and down payments as low as 3.5%, making them a strong fit for first-time buyers or anyone still building credit. Conventional loans aren’t government-backed and usually require stronger credit, but once you reach 20% equity you can cancel private mortgage insurance, while FHA mortgage insurance often stays for the life of the loan. If you’re not sure which fits your situation, one of our mortgage loan officers can walk you through both.
How to Apply for an FHA Loan
Apply Online
Submit your application together with your income, asset, and identification documents.Quick Review
We’ll review your application against FHA guidelines and offer you a loan rate and terms.Enjoy Your Low Rates
Find your home, close your loan, and start building equity with regular, affordable payments on your FHA mortgage.More Borrowing Options
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*All loans subject to credit approval, income verification, property appraisal, title review, and underwriting requirements. All loans subject to credit approval, income verification, property appraisal, title review, and underwriting requirements. Rates, terms, and program availability are subject to change without notice. FHA Home Loans are available to eligible borrowers who meet Federal Housing Administration requirements and lender underwriting standards. Down payments as low as 3.5% available for qualified borrowers and eligible properties. Not all applicants will qualify. FHA loans require an upfront and annual Mortgage Insurance Premium (MIP); other fees, insurance, taxes, and closing costs may also apply. Interest rates and loan terms will vary based on creditworthiness, loan amount, occupancy, loan-to-value ratio, property type, and other factors. Properties must meet FHA appraisal and property standards. Gift funds may be permitted for eligible down payment and closing costs subject to documentation and program requirements. Non-occupant co-applicants permitted subject to FHA guidelines. Cash reserve requirements may vary based on borrower qualifications and property type. Membership eligibility required. Argent Credit Union membership subject to qualification requirements. Information provided is for general informational purposes only and is not a commitment to lend. Equal Housing Lender. Federally insured by NCUA.
