Helping more borrowers who may not qualify for conventional financing achieve the dream of homeownership. Check with us to see if you qualify

• 580+ FICO, Up to 97.75% LTV
• 550-579 FICO, Up to 90% LTV
• Eligible for primary purchase, rate/term and cash-out refinances
• Available on single- and multi-wide manufactured homes
• Jumbo starting $1 over conforming loan limit up to FHA Mortgage Limit

FHA ELITE

Taking FHA borrowers to a new level with industry-leading government rates and pricing. This is the obvious choice for top-tier clients.

• 640+ FICO
• Loan amounts from $125,000 up to county loan limits
• All fixed term mortgages
• Single family primary residences
• Available on single- and multi-wide, condos and PUDs
• Lender and seller paid Temporary Rate Buydowns available

FHA STREAMLINE

Our FHA Streamline program allows you to refinance your FHA loan with no appraisal or AVM. Time is of the essence—stop the shop and use our quick closing process to secure your borrower.

• 580+ FICO
• Up to 60 days interest allowed
• Available on single- and multi-wide, condos and PUDs

HUD REO

We can close your HUD REOs (homes owned by HUD) in as fast as two weeks from submission while allowing holdbacks up to $10,000 for escrow repairs. You can purchase a home from HUD for $100 down payment. Call me for more information.

Why Choose an FHA Loan in Indianapolis?

FHA loans remain one of the most popular paths to homeownership in Indianapolis and Central Indiana — and for good reason. Backed by the Federal Housing Administration, these loans allow buyers to get into a home with as little as 3.5% down and more flexible credit requirements than conventional financing. Whether you're a first-time homebuyer navigating Indy's competitive neighborhoods or someone rebuilding after a financial setback, an FHA loan may be the right fit.

FHA Loans vs. Conventional: Key Differences

The biggest advantage FHA has over conventional financing is flexibility — lower minimum credit scores, higher debt-to-income ratios allowed, and a smaller down payment requirement. However, FHA loans do require an upfront mortgage insurance premium (MIP) and monthly MIP payments, which can make them slightly more expensive over time for high-credit borrowers. That's why I take the time to compare both options for every client before making a recommendation.

Who Qualifies for an FHA Loan?

• Credit score of 580 or higher for 3.5% down payment
• Credit score of 550-579 with 10% down
• Debt-to-income ratio generally up to 57% (case-by-case)
• Property must be your primary residence
• Property must meet FHA appraisal and safety standards
• Two years of employment history preferred (exceptions available)

FHA Loans in Indianapolis: Local Insight

Indianapolis continues to be one of the most affordable major metros in the Midwest, and FHA loan limits reflect that opportunity. The 2025 FHA loan limit for a single-family home in Marion County and surrounding Hamilton, Hendricks, and Boone Counties is $524,225 — well above the median home price in the area, meaning most buyers can access FHA financing without hitting the ceiling. Neighborhoods like Broad Ripple, Fountain Square, Nora, and Lawrence are all within easy reach with FHA financing in place.

Frequently Asked Questions About FHA Loans

Can I use an FHA loan to buy a duplex or multi-family home?
Yes — FHA financing is available for 1- to 4-unit properties, as long as you occupy one of the units as your primary residence. This is a popular strategy for house hackers in Indianapolis who want rental income to offset their mortgage.

How long do I have to wait after bankruptcy to get an FHA loan?
Chapter 7 bankruptcy: typically 2 years from discharge. Chapter 13: you may be eligible after 12 months of on-time payments with court trustee approval. I work with borrowers in these situations regularly — there are paths forward.

Can I refinance my existing mortgage into an FHA loan?
Yes — both rate/term and cash-out refinances are available under FHA. There's also the FHA Streamline Refinance, which requires minimal documentation and no appraisal for existing FHA borrowers.

Is FHA the right loan if my credit score is above 700?
Not necessarily. With strong credit, a conventional loan often makes more financial sense because you can avoid the lifetime MIP that FHA requires on many loans. I always run the numbers on both scenarios before making a recommendation.

Ready to explore your FHA loan options? Call Greg Rank at (317) 603-0912 or apply online today.

Related Resources

• All Loan Programs
• Current Mortgage Rates in Indiana
• Mortgage Calculator
• First-Time Homebuyer Programs
• Get Pre-Approved / Contact Greg