FHA Loans in Wisconsin: Affordable, Flexible Mortgages for First-Time Buyers
Buying your first home can feel overwhelming - especially when your credit isn't perfect or your savings account isn't stacked. But there's good news: FHA loans were designed to help buyers just like you.
Whether you’re purchasing in Milwaukee, Oak Creek, or anywhere in Wisconsin, FHA financing can get you into a home with low down payment requirements, lenient credit guidelines, and affordable monthly payments.
Let's break it down.
🏡 What Is an FHA Loan?
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). It allows approved lenders like Union Home Mortgage to offer more flexible guidelines to buyers who may not qualify for conventional financing.
FHA loans are especially helpful for:
- First-time buyers
- Buyers with lower credit scores
- Those with limited savings for a down payment
👉 Learn more about FHA guidelines from HUD.gov
✅ FHA Loan Highlights
Here's why so many Milwaukee-area buyers choose FHA:
- Down payment as low as 3.5%
- Credit scores starting at 580
- Gift funds allowed for down payment and closing costs
- Higher DTI allowances (up to 57% in some cases)
- Streamline refinance option available later
- Fixed and adjustable-rate options
💡 Bonus: If your credit score is between 500 - 579, you may still qualify with 10% down.
📍 FHA Loans in Milwaukee, Oak Creek & Wisconsin
If you’re house hunting in Milwaukee, Brookfield, Oak Creek, or Waukesha, FHA loans are especially useful in competitive markets where every dollar counts.
They also allow higher loan-to-value ratios and co-signers - which gives you more flexibility when building your buying strategy.
🤔 FHA vs. Conventional: Which Is Right for You?
| Feature | FHA Loan | Conventional Loan |
|---|---|---|
| Min Credit Score | 580 (3.5% down) | 620+ |
| Down Payment | 3.5% | As low as 3% |
| PMI / MIP | Required (MIP) | Cancellable PMI at 20% equity |
| Ideal For | Lower credit, first-time buyers | Stronger credit, larger down payment |
Still not sure which loan fits best? Let's compare side by side.
🧾 What You'll Need to Qualify
To get pre-approved for an FHA mortgage, you'll need:
- Proof of income (pay stubs, tax returns)
- Minimum 3.5% down payment
- Employment history (2 years preferred)
- Credit score of 580+ (or 500 with 10% down)
- Home must meet FHA property guidelines
Need help getting started? I walk buyers through the pre-approval process every day.
💬 Why Buyers Trust My Team
At Union Home Mortgage, my team and I specialize in helping first-time buyers feel confident, informed, and financially prepared. I work closely with buyers, real estate agents, and sellers to keep everything moving on time - no surprises.
📞 414-975-2654
📩 adam@uhm.com
🌐 Apply Online at mkemortgage.com
🔗 Helpful Resources
- HUD FHA Loan Requirements
- Union Home Mortgage FHA Programs
- Compare FHA vs. Conventional Loans
- UHM Grant for Down Payment Help
Adam Zeman
Mortgage Loan Originator, Union Home Mortgage
Proudly helping buyers in Milwaukee, Oak Creek & across Wisconsin
You don't need perfect credit. You just need the right plan.