FHA

A Trusted & Verified FHA Lender in Pennsylvania and Delaware

Your trusted and local FHA lender in Lancaster County. We can help you determine if an FHA loan is right for you!

At Fairway Independent Mortgage, you can rely on us as your FHA lender in Lancaster, PA. Our experienced and dedicated team takes the time to understand your unique financial situation and homeownership goals. In fact, we are frequently ranked as the #1 FHA purchase lender in the entire US.


We are committed to navigating you through the FHA loan process, offering personalized guidance and support from application to closing. 

Start the Home Buying Process

Bringing Homeownership Within Reach

We understand the importance of homeownership as a keystone of financial stability and personal fulfillment. By offering a variety of loan programs, including FHA loans, we aim to make this dream attainable for a diverse range of clients and financial backgrounds. 


Through our FHA loan programs, we strive to assist a wider pool of buyers in achieving their homeownership dreams in Lancaster and beyond. This includes those with less-than-ideal credit.

Background

The Federal Housing Administration (FHA) is a federal agency within the US Department of Housing and Urban Development (HUD). The FHA guarantees both fixed-rate mortgages and adjustable rates offered through us at FAIRWAY. The FHA exists to facilitate housing opportunities and is widely used for first-time home buyers. FHA loans are also available for refinancing a home. 

Your Local FHA 203K Lender

As your FHA 203k lender in Delaware, Lancaster, Pennsylvania and surrounding counties, we extend our offerings to include FHA 203k loans, a unique program designed for homebuyers interested in purchasing homes that require repairs or renovations. 


Recognizing that finding the perfect home isn’t always possible, this program allows buyers to finance both the purchase of the home and the cost of its rehabilitation through a single mortgage. This program is ideal for buying a property that has great potential but needs work, making it easier for buyers to transform a fixer-upper into their ideal home. 

FHA Loan Eligibility Requirements

In terms of eligibility for an FHA loan, you don’t need perfect credit to enjoy the benefits, but there are specific factors that play into the requirements, some of which include:

  • Credit score
  • Monthly income
  • Employment status
  • History of paying debts


Also important to note is that the loan is available for the purchase of a primary residence only with 1 to 4 units.

Benefits of FHA Loans

There are a host of benefits that go along with FHA loans, namely that they’re much less strict than conventional loans. These types of loans are especially helpful for first-time home buyers or those who have faced financial setbacks in the past. 

  • Lower Down Payments

    FHA loans have lower down payment requirements, which can be as low as 3.5% of the purchase price. This significantly reduces the upfront financial burden on buyers, making homeownership a more attainable goal for many, especially first-time home buyers and those with limited savings.

  • Easier to Qualify with Lower Credit Scores

    Unlike conventional loans, which often require higher credit scores, FHA loans are accessible to individuals with lower credit ratings. This inclusivity stems from the FHA's mission to help more Americans become homeowners. Borrowers with credit scores as low as 580 may qualify for the maximum financing options, including the low down payment feature.

  • You Can Qualify With a Higher Debt-to-Income Ratio

    FHA loans offer yet another significant advantage for potential homeowners: a higher debt-to-income (DTI) ratio allowance. This is very beneficial for those with a higher level of debt compared to their income, a common scenario for many first-time home buyers or those who have substantial student loans or credit card debt.

  • Sellers Can Help With Closing Costs

    Another notable feature of FHA loans is the flexibility regarding seller contributions. Sellers can pay up to 6% of the sales price toward the buyer's closing costs. This provision not only helps reduce the financial burden on buyers but also boosts the negotiation capabilities of those looking to purchase a home.

Getting a Home Mortgage the Fair Way

Of all the FHA home lenders in Lancaster, we at Fairway Independent Mortgage are the ones to choose from because of our proven track record. Our commitment to excellence is evident in the hundreds of families we've helped achieve their dream of homeownership.


Our dedication to simplifying the mortgage process, coupled with our expertise and personalized service, ensures that the path to homeownership is as seamless and stress-free as possible.

Get Your Preapproval Letter!

Reach out today to learn more from your FHA lender in Lancaster, PA!
717-431-9299

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