Getting an enthusiastic FHA financing: app techniques You're not required to getting an initial-go out domestic customer to be eligible for an enthusiastic FHA financing. But if you are, you could potentially be eligible for more national otherwise condition-established basic-day house buyer programs, including down-payment advice. FHA mortgage costs You will find a couple of closing costs you will have to believe when you take away an enthusiastic FHA mortgage, including your advance payment and you can mortgage insurance rates. Down payment If you find yourself taking out an enthusiastic FHA loan, you'll have to establish at the very least step three.5% of your own residence's well worth upfront, otherwise up to ten% that have a reduced credit history. That means if you purchase a good $two hundred,000 family, you…