An FHA loan is a mortgage backed by the Federal Housing Administration, part of the U.S. Department of Housing and Urban Development (HUD). Because the government helps protect the lender, Peak can offer more flexible qualifying terms than a conventional loan.

Apply for a FHA Home Loan | Peak Credit Union

Q: Who is an FHA loan good for?

FHA loans are popular with first-time homebuyers and anyone who wants a lower down payment or has credit that is still improving. They can also be easier to qualify for after a past bankruptcy or foreclosure.

Q: How much do I need for a down payment?

You can buy with as little as 3.5% down with a qualifying credit score. A Peak mortgage loan officer can help you understand what you will need based on your situation.

Q: Do FHA loans require mortgage insurance?

Yes. FHA loans include an upfront mortgage insurance premium and an annual premium paid as part of your monthly payment. Your loan officer can walk you through the cost.

Q: Can I get an FHA loan if I’ve had credit trouble?

Often, yes. FHA loans are designed to be more forgiving of past credit challenges, including bankruptcy or foreclosure, once enough time has passed. Talk with a Peak mortgage loan officer to see where you stand.

An easier path to a home of your own.

An FHA loan from Peak Credit Union can help you cross the threshold into homeownership.

Saving a large down payment and polishing up your credit can feel like the hardest part of buying a home. Backed by the Federal Housing Administration, an FHA loan is built to lower those hurdles. Peak can help you turn “someday” into a set of house keys.