FHA Loan

With an FHA loan, you don't have to save a small fortune for a down payment – and you don't need a perfect credit score. For nearly a century, this popular program has helped millions of homeownership dreams comes true.

A great way to get your foot in the front door

Down payments as low as 3.5%

Flexible credit requirements

Competitive rates on loans of 15, 20 and 30 years

A little help from your friends

The FHA loan program allows friends, family members, and employers to provide "gift funds" to the buyer to cover down payment and closing costs.

Put simply, the new numbers work in your favor

To qualify for a traditional mortgage, borrowers often must make a 10% to 20% down payment on the home they want to buy. That can total tens of thousands of dollars - well beyond the savings balance of many North Texans. With a Federal Housing Administration loan, upfront costs drop dramatically, turning the financially impossible into the definitely doable.

Fixed-rate and adjustable-rate loans available
No prepayment penalties
Streamlined applications for FHA loan refinancing
Cost of needed renovations can be rolled into purchase loan
Borrowers work directly with local DATCU lenders and not a government agency

Frequently asked questions

Can I refinance a loan from another lender?

Yes. DATCU regularly helps members refinance auto loans, personal loans, and mortgages from other lenders, often at a lower rate. Contact us or apply online to see if refinancing makes sense for your situation.

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Your financial sidekick

Homebuying & Building Equity

Comparing Mortgages Calculator

Should I Refinance My Home Calculator

The staff at DATCU has always been kind and helpful to me in every interaction over the past 24–30 years I have been a member. I appreciate them so much. Thank you!

Beverly M.