FHA Loans


An FHA loan, backed by the Federal Housing Administration, may be a good option for borrowers with a smaller down payment or lower credit score than those required for a conventional loan.

The Federal Housing Administration provides government backing to these loans, which are available as fixed or adjustable-rate loans. HomeStreet Bank has been continuously producing FHA insured loans since 1937. It would be safe to say that we have more experience and expertise in processing and closing FHA loans than many lenders.

Government-insured loans increased in popularity in the wake of the recent financial crisis and became more mainstream, rather than being thought of as an option just for first-time buyers. FHA loan limits increased, down payment requirements lowered and changes were made to the qualifying criteria, making them a good alternative for more borrowers than in the past. In short, for more and more home buyers, an FHA loan may be the best choice.

Some features of FHA loans include:

- Down payments as low as 3.5%
- Easier qualification guidelines than those of conventional mortgages
- FHA loan limits competitive with conforming loans, in most areas
- Parents able to co-borrow with a child earning minimal or no income without being an occupant of the home
- FHA 203(k) loans provide funds for renovation along with the home purchase or refinance

Your Hawaii HomeStreet Loan Officer will help you determine if an FHA loan is the right option for you.



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