Especially if you’re working with limited savings or less-than-perfect credit.

Buying your first home can feel like a stretch — emotionally, financially, and logistically. That’s why FHA loans were designed to help first-time buyers step into homeownership sooner, with less pressure and more flexibility.

If you’re feeling overwhelmed by the idea of 20% down or worried your credit isn’t good enough, this guide is for you.

Let’s break down how FHA loans are uniquely structured to support buyers just like you — and how PRMI can help you turn “someday” into right now.

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✅ Lower Down Payment = Faster Path to Ownership

You’ve probably heard the 20% rule — but with an FHA loan, you only need 3.5% down.

That means:

• Less time waiting to save
• More cash available for emergencies, furniture, or repairs
• A chance to get into the market before prices rise

💸 And your down payment can even be gifted from family or paired with local assistance programs.

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✅ Credit Doesn’t Have to Be Perfect

FHA loans are designed to serve buyers who’ve had bumps in the road — including:

• Medical debt
• Credit card challenges
• No credit history (thin files)

Minimum FICO score? 580 in most cases.
Have a score below that? We may still be able to help with a higher down payment or additional strengths in your file.

📘 We don’t just look at the score — we help tell your story.

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✅ Flexible Debt-to-Income Ratios

Compared to other loan types, FHA allows higher DTI (debt-to-income) ratios — sometimes up to 56% with the right compensating factors.

That means:

• More breathing room on paper
• A better shot at qualifying for the home that fits your needs
• A realistic approach to budgeting

🔍 We help calculate your DTI and structure your file to highlight your strengths.

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✅ FHA Loans Allow Co-Borrowers, Gift Funds & More

This is huge for first-time buyers. FHA lets you:

• Use gift funds for your down payment
• Have a co-borrower help qualify (even if they don’t live in the home)
• Buy a duplex, triplex, or fourplex — and live in one unit

This kind of flexibility opens doors that other loans don’t.

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🏢 Why PRMI?

As a direct FHA lender, PRMI gives you:

• In-house processing, underwriting, and closing (no handoffs or mystery lenders)
• Real-time guidance on how to qualify — or how to get ready
• A smooth, supportive experience designed specifically for first-time buyers

We don’t shop your loan to the highest bidder.
We handle it with care, clarity, and full transparency — start to finish.

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👇 Want to See How an FHA Loan Could Work for You?

We’ll walk through your credit, income, and goals — and help you build a smart, low-stress plan to get there.