Welcome to FHA Loans

Have low credit or debt? You may still qualify for an FHA loan

FHA loans are designed to help low-to-moderate income families and first-time homebuyers qualify for a mortgage

American FHA Loans

FHA loans are secured by the Federal Housing Administration, which means your lenders are protected by the government if you are unable to make payments. FHA loans typically have less stringent requirements for down payments and credit scores.

FHA Loans

How it works

The amount you can borrow with an FHA loan depends on your credit score.

  • Credit score over 580

Borrow up to 96.5% of a home’s value
3.5% down payment

  • Credit score 500-579

Borrow up to 90% of a home’s value
10% down payment

Why consider an FHA loan?

American Barndominiums provides the full-service support you need to secure financing and build your dream barndominium

Lower Credit Score

Credit score requirements are lower than conventional loans

Easier Qualification

Bankruptcy and other financial issues may not disqualify you

Smaller Down Payment

Requires as little as 3.5% down payment

Defer Closing Costs

Closing costs can be rolled into your mortgage for lower upfront costs

Happy Clients with Barndominiums Financing

As a first-time homebuyer, the process of financing can be daunting. However, American Barndominiums made it seamless with their expertise in FHA Loans. Their team walked me through every step, providing detailed construction plans that reassured both me and the lenders. I’m now the proud owner of a beautiful barndominium, thanks to their comprehensive services and support.

Emily Thompson

I opted for a conventional loan for my barndominium project, and I couldn’t be happier with the support from American Barndominiums. Their comprehensive plans and expertise in zoning and appraisal made the financing process smooth. Their dedication to going beyond just financing helped me build my dream home with ease.

Alex Rivera

Living in a rural area, I thought building a barndominium would be complicated, but American Barndominiums proved me wrong. They specialize in USDA Loans, which was perfect for my situation. Their zoning expertise and specialized appraisers made the financing process straightforward, and now I have the perfect home for my family.

Marcus Johnson

American Barndominiums’ claim of full-service support is 100% true. From securing a conventional loan to navigating the construction and appraisal process, their team was there every step of the way. Their detailed plans and zoning knowledge were crucial in getting my project off the ground. I’m deeply grateful for their dedication.

Natalie Kim

As a veteran, I wanted to utilize a VA Loan for my barndominium. American Barndominiums’ team was incredibly knowledgeable about the VA Loan process. They provided detailed construction plans and had specialized appraisers who understood the unique value of barndominiums, ensuring I got the best deal possible. Their full-service support was invaluable.

Jessica Walters

The team at American Barndominiums is phenomenal. Not only did they help me secure a USDA Loan, but their full-service approach covered everything from construction plans to dealing with zoning. Their specialized appraisers and comprehensive support were key to the success of my barndominium project. They truly go beyond financing.

Derek Smith

Tested and tried for over 20 years

Are you eligible for an FHA loan?

You must meet the following requirements:

  • Complete an appraisal by an FHA-approved appraiser
  • Live in the home as your primary residence
  • Occupy the home within 60 days of closing
  • Complete an inspection that reports on minimum property standards
  • Meet the credit score, loan limits, and income requirements
  • Purchase mortgage insurance with a mortgage insurance premium (MIP)

Understanding mortgage insurance for FHA loans

Mortgage insurance protects the FHA if you stop making loan payments. It is typically 1.75% of your loan amount. FHA borrowers also pay can annual mortgage insurance premium between 0.15% and 0.75% of the loan amount. The exact amount is determined by your mortgage terms, loan-to-value ratio, total mortgage size, and the down payment.

If your down payment is less than 10%, you will pay MIP for the length of the loan; if you paid 10% down, you will pay MIP for 11 years.

See if an FHA loan is right for you