FHA Loans in Bakersfield — Buy a Home with Just 3.5% Down
Government-backed FHA loans offer flexible credit requirements and low down payments, making homeownership accessible for first-time buyers and those rebuilding credit.
What is an FHA Loan?
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA), a division of the U.S. Department of Housing and Urban Development (HUD). Because the government guarantees these loans, lenders can offer them to buyers who might not qualify for conventional financing.
FHA loans are especially popular with first-time homebuyers in Bakersfield and Kern County because of the low 3.5% down payment requirement and lenient credit score thresholds. If you've had past credit challenges or are just starting out, an FHA loan may be your fastest path to homeownership.
As a mortgage broker with 20+ years of experience including senior underwriting roles, Dan Ardis knows exactly how to structure FHA applications for approval. He shops multiple FHA lenders to get you the most competitive rates and fees.
Key FHA Loan Features
FHA Loan Pros & Cons
Pros
- Only 3.5% down payment required
- 580+ credit score (lower than conventional)
- Gift funds allowed for down payment
- Higher DTI ratios accepted
- Available for purchase and refinance
- Assumable loan (buyer can take over your rate)
Cons
- Mortgage Insurance Premium (MIP) required
- MIP lasts life of loan (if <10% down)
- Loan limits apply ($524,225 in Kern County)
- Property must meet FHA condition standards
- Primary residence only (no investment property)
- Slightly higher MIP cost vs conventional PMI
FHA Loan FAQs
Ready to Apply for an FHA Loan in Bakersfield?
Apply online in minutes or call Dan at (661) 342-9381 for a free consultation. Soft credit pull only.