¹FHA Loans are not limited to first-time homebuyers and are available to any borrower who meets FHA guidelines. A first-time homebuyer is generally defined as someone who has not owned a principal residence in the past three years, or who previously owned a home only under circumstances such as being a single parent or displaced homemaker, owning a property not permanently affixed to a foundation, or owning a property that was not up to code and could not be brought into compliance cost-effectively. Regardless of first-time homebuyer status, FHA Loan eligibility is determined by factors such as credit, income, and property requirements.

²For FHA Loans, borrowers with a credit score of 580 or higher may qualify for a 3.5% down payment, while those with a credit score below 580 are required to make a 10% down payment. These minimums are subject to FHA eligibility guidelines and lender requirements.