Buying your first home or overcoming credit challenges? Kristy Gannon at Ownity Mortgage helps borrowers across California secure FHA Home Loans with low down payments, flexible credit requirements, and expert support. With more than 20 years of experience, Kristy is here to help you move forward with confidence.
FHA Home Loans are government-backed mortgages insured by the Federal Housing Administration. They are designed to make homeownership more accessible—especially for first-time buyers, those with less-than-perfect credit, or individuals who need a low down payment option. With lower barriers to entry and more flexible underwriting, FHA loans open the door to homeownership for buyers who might not qualify for conventional financing. Kristy Gannon helps California clients navigate FHA loans with ease and clarity.
FHA loans are a great option for first-time buyers, credit-challenged borrowers, or anyone with limited funds for a down payment. If you’re rebuilding your credit, working with a modest income, or trying to qualify after a financial setback, FHA financing can provide a reliable and affordable way forward. Kristy Gannon works one-on-one with buyers across California to make sure they get the support and solutions they need to become homeowners.
An FHA Home Loan allows you to purchase a home with as little as 3.5% down, even if your credit score is in the mid-600s or lower. Because the loan is backed by the government, lenders are more willing to offer favorable terms to borrowers with less traditional financial profiles. FHA loans also allow for higher debt-to-income ratios and can be combined with down payment assistance programs. Kristy Gannon will help you prepare your documentation, understand the guidelines, and walk you through every step of the approval process.
There are several options under the FHA program depending on your needs. You can use an FHA loan to purchase a primary residence, refinance your current mortgage, or fund repairs and improvements with an FHA 203(k) renovation loan. For homeowners with existing FHA loans, the FHA streamline refinance offers a fast and simple way to reduce your rate. Kristy Gannon will help determine which loan best suits your goals and ensure a smooth path to closing.
FHA Home Loans offer a wide range of benefits, especially for first-time or credit-challenged buyers. These loans allow for low down payments, lenient credit score requirements, and higher debt-to-income ratios compared to many conventional loans. They are ideal for buyers who need a little extra flexibility or support in qualifying. With Kristy’s guidance, you’ll understand all the advantages available to you and how to make the most of them.
If you’re ready to buy a home but concerned about credit history, saving for a large down payment, or qualifying with moderate income, an FHA Home Loan could be the perfect fit. These loans are designed to help more people enter the housing market and build equity in a place to call their own. Kristy Gannon will take the time to understand your situation, walk you through your options, and make sure the FHA loan is the right path for your needs.
With more than two decades of experience, Kristy Gannon has helped hundreds of first-time buyers and credit-rebuilding borrowers become successful homeowners with FHA Home Loans. She understands the unique challenges facing buyers in today’s market and provides compassionate, expert guidance every step of the way. At Ownity Mortgage, Kristy brings professionalism, patience, and personalized service to every FHA transaction—ensuring your loan is not just approved, but well-structured and stress-free.
FHA loans make homeownership possible for more people. Kristy Gannon is here to answer your questions and guide you every step of the way.
An FHA loan is a government-backed mortgage that helps low- and moderate-income borrowers secure financing with low down payments and flexible credit requirements. The FHA insures the loan, reducing lender risk and making it easier for borrowers to qualify.
Borrowers with a credit score of 580 or higher can qualify with a 3.5 percent down payment. Those with credit scores between 500 and 579 may still be eligible with a 10 percent down payment. A score below 500 is generally not accepted unless the borrower has strong compensating factors.
FHA loans are available to both first-time and repeat homebuyers who meet FHA loan requirements. They are not restricted to first-time buyers, making them a good option for anyone looking for more flexible mortgage approval.
Borrowers with a credit score of 580 or higher can qualify with a 3.5 percent down payment. If the credit score is between 500 and 579, a 10 percent down payment is required.
FHA loans are only for primary residences and cannot be used to purchase second homes, vacation properties, or investment properties. However, buyers can purchase multi-unit properties with up to four units as long as they live in one of the units.
FHA loans require mortgage insurance premiums (MIP) to protect lenders. Borrowers must pay an upfront MIP of 1.75 percent of the loan amount at closing, as well as an annual MIP that is included in the monthly mortgage payment. The annual MIP rate is typically 0.55 percent of the loan balance.
FHA mortgage insurance is mandatory for the life of the loan unless the borrower refinances into a conventional loan once they reach 20 percent equity. Borrowers who put at least 10 percent down will have MIP removed after 11 years.
FHA loan limits vary by location. In 2024, the limits range from $498,257 in low-cost areas to $1,149,825 in high-cost areas. Borrowers should check their local FHA loan limits to determine eligibility.
FHA loans allow flexible debt-to-income (DTI) ratios, and lenders consider student loan repayment plans when calculating eligibility. Borrowers with student loans may still qualify depending on their income and overall debt obligations.
Yes, FHA offers refinancing options, including the FHA streamline refinance, which allows existing FHA borrowers to lower their interest rates with minimal paperwork. FHA cash-out refinance loans enable homeowners to access their home equity by refinancing into a larger loan.
The FHA loan process typically takes 30 to 45 days, depending on lender requirements and borrower documentation. The approval timeline may vary based on factors such as credit history, income verification, and appraisal requirements.
If you don’t qualify for an FHA loan, alternative options may include conventional loans with 3 or 5 percent down payments, USDA loans for rural buyers, or VA loans for eligible military service members. A mortgage expert can help explore the best financing solution based on your unique financial situation.
The Turnkey Foundation Inc. DBA Ownity Mortgage | NMLS# 236669 | NMLS# 2592455| DRE# 01845041 | All rights reserved.
7606 Meany Ave. Suite 103 Bakersfield, California 93308
DRE #01771805
NMLS #245918
Arbor NMLS #236669
Arbor DRE #01845041
