FHA Loan Benefits on the Oregon Coast
Low Down Payment
As little as 3.5% down with a 580+ credit score — making coastal homeownership accessible.
Coastal Property Knowledge
I know FHA's property standards as they apply to coastal homes — no surprises during appraisal.
Flexible Credit
FHA allows lower credit scores than conventional financing — great for buyers rebuilding credit.
Flood Zone Guidance
Many coastal properties are in flood zones — I'll help you navigate flood insurance requirements with FHA.
Gift Funds Allowed
Down payment can come from family gifts — 100% gift funds accepted for FHA loans.
Streamline Refinance
FHA Streamline refinance makes it easy to lower your rate with minimal documentation later.
FHA Loan Requirements in Oregon
- ✓Credit Score: 580+ for 3.5% down; 500–579 for 10% down
- ✓Down Payment: 3.5% minimum (can be a gift from family)
- ✓Employment: 2-year employment history preferred; self-employed borrowers acceptable with documentation
- ✓Property: Must be primary residence; meet FHA Minimum Property Standards — coastal considerations apply
- ✓Loan Limits: Set by county; Lincoln, Tillamook, Coos, Curry, and other coastal counties have specific limits
- ✓MIP: 1.75% upfront + annual premium paid monthly (cancels after 11 years with 10%+ down)
Coastal FHA Loan FAQ
Can I use FHA to buy a coastal home in a flood zone?
Yes — FHA loans are available in flood zones, but you'll need flood insurance in addition to your standard homeowner's insurance. I'll help you factor flood insurance costs into your total payment estimate so there are no surprises.
What is the minimum down payment for an FHA loan?
580+ credit score = 3.5% down. 500–579 credit score = 10% down. Down payment can come from gifts or approved assistance programs.
Are there special FHA property standards for coastal homes?
FHA's Minimum Property Standards apply to all homes, but coastal properties often have additional inspection considerations — foundation exposure, salt air deterioration, beach erosion setbacks. I'll work with appraisers familiar with Oregon coastal properties.
Can I use FHA for a vacation home on the coast?
FHA is for primary residences only — it cannot be used for vacation homes or investment properties. If you're looking to buy a coastal vacation property, conventional financing is the right path. Let's discuss your options.
Other Loan Programs
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Takes 2 minutes · No credit pull · No obligation