FHA Loan Homes in Springfield — Low Down Payment Options
FHA loans make homeownership accessible with as little as 3.5% down. AREG works with first-time and repeat buyers using FHA financing.
Why Work With AREG
- ✓As little as 3.5% down payment required
- ✓More flexible credit score requirements than conventional loans
- ✓Works with trusted FHA-approved lenders in Springfield
- ✓Guidance on FHA appraisal requirements and property condition
- ✓Can be combined with down payment assistance programs
About AREG
Albers Real Estate Group is a veteran-owned brokerage based in Fair Grove, MO serving all of Southwest Missouri. Founded in 2013 by Zac Albers. 91 five-star reviews. 208+ transactions closed.
Frequently Asked Questions
Common questions buyers and sellers ask. Don't see yours? Reach out to Zac directly or call 417-413-4305.
What is the minimum down payment for an FHA loan?
3.5% if your credit score is 580 or above. With scores 500 to 579 the minimum jumps to 10% down. Most buyers in the 580+ range can put down a small amount and finance the rest.
What credit score do I need for an FHA loan?
580 to qualify for the 3.5% down payment program. Some lenders will go to 500 with 10% down. FHA is the most credit-flexible mainstream loan program available.
What is the FHA loan limit in Greene County, Missouri?
For 2026, the FHA loan limit in Greene County is around 498,250 dollars for a single-family home. The limit adjusts annually based on local home prices. Christian and Webster counties have the same limit.
How much is FHA mortgage insurance?
FHA charges two mortgage insurance fees: an upfront premium of 1.75% of the loan amount, which can be rolled into the loan, and a monthly premium of around 0.55% annually for most loans.
Can I refinance out of an FHA loan later?
Yes. Once you have 20% equity in the home, refinancing into a conventional loan often makes sense to drop the FHA mortgage insurance.
Can I use an FHA loan for an investment property?
No, FHA loans are owner-occupied only. You must live in the home as your primary residence for at least one year. You CAN buy a 2-4 unit property with FHA and live in one unit while renting out the others.
FHA loan vs conventional loan, which is better?
It depends on your credit and down payment. With a 740+ credit score and 5%+ down, conventional is usually better because there is no permanent mortgage insurance. With lower credit or smaller down payments, FHA usually wins.
More Ways AREG Can Help
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