Based in Medford, Summit Lending Solutions helps first-time and repeat homebuyers across Southern Oregon and the Rogue Valley evaluate FHA financing. Phoenix-area borrowers and clients in our other licensed states are also welcome.

FHA Loans

FHA Loans in Medford & Southern Oregon

Low 3.5% Down Payment - Flexible Credit - First-Time Homebuyer Friendly

Get Pre-Approved (541) 228-9888

What is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development (HUD). FHA loans are designed to help lower-income and first-time homebuyers qualify for a mortgage with more flexible requirements than conventional loans.

FHA Loans

Why Choose FHA Loans with Summit Lending?

Craig Pribyl at Summit Lending Solutions is an independent mortgage broker licensed in 6 states. As an independent broker, Craig shops dozens of lenders to find you competitive FHA loan options. You get the expertise of a seasoned mortgage professional combined with access to a wide range of lenders.

Access to dozens of FHA Loans lenders
Personalized guidance from application to closing
Personalized preapproval guidance
Clear discussion of lender fees, closing costs, and available options
Licensed in AZ, CO, ID, OR, WA and WY

FHA Loan Requirements

Minimum credit score of 580 for 3.5% down payment
Credit scores 500-579 may qualify with 10% down
Debt-to-income ratio up to 57% in some cases
Property must be your primary residence
Home must meet FHA minimum property standards
Must have steady employment history for 2 years

FHA Loan Benefits

Program guidelines and lender overlays affect minimum credit score and down-payment requirements; eligibility is determined case by case
More flexible credit requirements than conventional loans
Seller can contribute up to 6% toward closing costs
Gift funds can be used for the entire down payment
Interest rates and loan terms vary with program requirements, lender criteria, and borrower qualifications
Available for single-family homes, condos, and 2-4 unit properties

FHA vs. Conventional Loans

FHA: Lower credit score requirements (580 vs 620)
FHA: Lower down payment for buyers with limited savings
FHA: More flexible debt-to-income ratios
Conventional: No upfront mortgage insurance premium
Conventional: PMI can be removed; FHA MIP is often permanent
Craig will help you determine which is best for your situation

Frequently Asked Questions About FHA Loans

What is FHA mortgage insurance?

FHA loans require two types of mortgage insurance: an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount, and an annual mortgage insurance premium (MIP) paid monthly. For loans with less than 10% down, MIP is required for the life of the loan.

Can I use an FHA loan to buy a fixer-upper?

Yes! The FHA 203(k) loan allows you to finance both the purchase price and renovation costs into a single loan. This is a great option for buyers who want to purchase a home that needs work.

Are there FHA loan limits?

Yes, FHA loan limits vary by county. FHA loan limits vary by county and are updated annually. Contact us to confirm the current limit for your county, or see HUD’s FHA loan limit lookup at hud.gov. Higher limits apply in high-cost areas. Craig can confirm the exact limits for your target area.

Ready to Apply for a FHA Loans?

Craig Pribyl will personally guide you through the entire process. Get pre-approved today - fast, and no obligation.

Apply for an FHA Loan Talk to Craig