804Mortgage makes FHA loans simple for Richmond buyers. Low 3.5% down payment, flexible credit requirements, and a local team that has helped buyers get approved after being told "no" elsewhere.
One of the most accessible mortgage products available — especially for first-time buyers and those rebuilding credit.
An FHA loan is a mortgage insured by the Federal Housing Administration — a government agency within the U.S. Department of Housing and Urban Development. Because the federal government backs the loan, lenders take on less risk, which means they can approve borrowers who might not qualify for conventional financing.
FHA loans are one of the most popular choices for first-time homebuyers in Richmond for a simple reason: they're accessible. A 580 credit score and 3.5% down payment is a realistic target for many buyers who are still building their financial profile — and FHA makes that possible.
The tradeoff is mortgage insurance. FHA loans require both an upfront mortgage insurance premium and an ongoing monthly premium, which adds to your payment. For most FHA borrowers who put less than 10% down, that insurance stays for the life of the loan — unlike conventional PMI, which can be removed at 20% equity.
804Mortgage has helped numerous Richmond buyers who were told "no" by other lenders get into homes using FHA financing. If you're not sure whether you'd qualify, give us a call — we'll give you a straight answer fast.
⚠️ Important: FHA Mortgage Insurance
FHA loans require mortgage insurance for the life of the loan if you put less than 10% down. On a $300,000 loan, annual MIP adds roughly $137/month to your payment.
If you can qualify for a conventional loan, we'll compare both options side by side so you can make the most informed decision.
Not sure if FHA is the right fit? Here's how it stacks up.
Simple, fast, and transparent — even if you've been turned down before.
Tell us your situation. We'll confirm your FHA eligibility and give you a clear picture of what you qualify for — no guessing.
Fast FHA pre-approval so you can shop with confidence and make competitive offers in Richmond's market.
FHA requires an appraisal that meets minimum property standards. Our agents know which homes will pass and which won't.
We handle your FHA loan from application to closing. Local team, clear communication, no surprises.
Our in-house real estate team gives you half the buyer-agent commission back at closing — apply it to your FHA closing costs or use it to cover your down payment gap. On a $350,000 home, that's $5,250 back.
See How Bundle & Save Works →FHA might not be the only option for you.
Let's find out what you qualify for — no commitment, no pressure. Just a straight answer from a local Richmond lender.
