Is actually an FHA Financing Suitable for Me? For those who get an enthusiastic FHA mortgage and your credit history are above 580, you can tend to get away with putting down only step three.5% of cost. Particularly, if you’ve located a property available and you can discussed towards the supplier to purchase they for $200,100000, your down-payment would need to become $seven,100. The bucks for your FHA advance payment will come away from a good family savings, checking account, IRA, 401(k), bucks, gift ideas, additionally the profit of individual assets. six. Spend Home loan Insurance rates You to definitely characteristic of the FHA mortgage is actually its expected yearly mortgage premium. FHA finance are not offered from the regulators, they are insured by authorities to protect the lender facing loss.