Own a Home with Less Upfront Cost

FHA loans let you get into homeownership with as little as 3.5% down.

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Rohit Mohan

Real Estate Broker / Mortgage Advisor

Mortgage

FHA Loans

An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay. FHA loans are not for everybody. Nevertheless, they are a great help to some borrowers. FHA loans allow people to buy a home with a down payment as small as 3.5%. Other loans might not allow such a low down payment.

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Who can get an FHA Loan?

Almost anybody can get an FHA loan. There are no income limits. However, there are limits on how much you can borrow. In general, you're limited to median home prices in your area. To find the limits in your region, visit HUD's Website. To qualify for an FHA loan, you'll need to have reasonable debt to income ratios. You don't need perfect credit but you will need to have a credit score of at least 620.

Benefits of FHA loans:

  • 3.5% down payment required on purchase
  • Easier to use gifts for down payment and closing costs
  • No prepayment penalty
  • Financing for home improvement using FHA 203k programs

Reviews

Hear From Our Happy Clients

Read all our reviews here and see why clients love working with us!

"Getting the price right in a low-inventory market is genuinely stressful, and Rohit made that part feel manageable. He knew the Fremont area well, kept us grounded when things got complicated, and negotiated in a way that actually got us the home we wanted at a price that made sense. What I appreciated most was how cal…
"Rohit was the right call, especially as a first-time buyer who had no idea what she was getting into. He knew the market, kept things calm, and made sure I actually understood what I was signing. My friends were right to send me his way."
"Finding our new home felt like a dream coming true, and we owe so much of that joy to Rohit Mohan. From day one, Rohit Mohan made us feel supported, understood, and confident in every step we took.He went above and beyond to understand our needs, patiently guiding us through every detail and making the entire process f…
"I wholeheartedly give Rohit Mohan my strongest recommendation — five stars aren’t even close to enough!I’ve known and worked with him for nearly 10 years, and he has refinanced my home multiple times with outstanding results.We needed a larger home in a very specific location, with s bigger size and preferably new cons…
"Rohit is one of Best in this Game! We loved that he was patient, helped us think about not just where we are, but where we would be in a couple years, and he did not hesitate to stand his ground. There were situations where being a first time homebuyer we were unsure… We were concerned About things that didn’t really m…
"Rohit is very knowledgeable and friendly. Everything went quickly & smoothly with his quick negotiations and attention to detail.As a first-time seller all of our questions were answered & the process was stress free."
"Rohit and LaVawn were great and provided exemplary service. This was our first home and he made sure to walk us through the entire process and helped educate us on the intricacies of home buying process. He was always responsive and made sure all our questions were answered and we were comfortable. He also provided hel…
"When we first met Rohit and his team, he had completed his research and walked through a plan for selling our property. He understood our requirements, gave advice, and managed all aspects of the selling process. He shared strategies about price, listing timeline, potential buyers and so on. Rohit also helped with prop…
"We worked with Rohit for both buying and selling of our property. He did an excellent job at negotiating and helped us buy a dream house for us. Also he meticulously prepared our house and he did everything he can from beautiful staging to strategic planning on getting the best offer possible and helped us sell our hou…
"Rohit and team are awesome. Rohit is a great negotiator and got us good deals both on selling and buying side. He is a one stop shop for all things real estate and mortgage. He helped in crunching the numbers in various ways and provides valuable insights which helped us make quick decisions. I highly recommend Rohit a…

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