Metairie
FHA Loans
3.5% down, credit scores starting at 580, and a down payment that can come from a gift. This is the loan most first-time buyers in Metairie actually use.
Why FHA?
Benefits of an FHA Loan
in Metairie
FHA is a government-backed loan built for buyers who have steady income but not a big pile of savings or a perfect credit file. It is the most forgiving program on the board for Metairie buyers. Learn more on our Louisiana FHA loan overview page.
3.5% Down
With a 580 score or better you put down 3.5%. On a $200,000 home in Metairie that is $7,000, not $40,000.
Credit From 580
FHA allows scores down to 580 at 3.5% down, and down to 500 with 10% down. We look at the whole file, not just the number.
Gift Funds Allowed
Your entire down payment can be a documented gift from family. Plenty of Metairie buyers close this way and it is completely above board.
Higher Debt Ratios
FHA allows a higher debt-to-income ratio than conventional. Your monthly debts divided into your gross monthly income, that is the ratio, and FHA gives you more room.
Seller Can Pay Costs
FHA lets the seller contribute up to 6% of the purchase price toward your closing costs. On a $200,000 home that is up to $12,000 you do not bring.
Assumable Later
An FHA loan can be assumed by a qualified buyer. If rates are higher when you sell, that low rate becomes something you are selling with the house.
FHA Loans in Metairie
What Is an FHA Loan
and How Does It Work?
An FHA loan is a mortgage insured by the Federal Housing Administration. The government insurance is what lets a lender say yes to a smaller down payment and a lower credit score than they otherwise would in Metairie.
Metairie is Jefferson Parish's largest community and one of Louisiana's most sought-after suburban markets. Strong school districts and walkable retail corridors drive consistent demand.
- 3.5% down with a 580 score, 10% down from 500 to 579
- Mortgage insurance is required, and we show you what it costs before you apply
- The whole down payment can be a documented gift
- Seller can pay up to 6% of the price toward your closing costs
- Works for single-family, FHA-approved condos, and 2 to 4 units you live in
- We compare FHA against Conventional, VA, and USDA on your real numbers
How FHA Compares in Metairie
| Program | Down Payment | PMI / MIP | Min Credit |
|---|---|---|---|
| FHA Loan | 3.5% | MIP for life | 580 |
| VA Loan | $0 | None | No VA min |
| USDA Loan | $0 | 0.35%/yr | 640 |
| Conventional | 3% to 20% | Removable at 20% | 620 |
FHA is the most forgiving program on credit and down payment. Mortgages by Channing prices it against the others for your Metairie purchase.
Not sure if FHA is your best option?
Below about a 660 score FHA usually wins. Above it, conventional often does. We run both on your numbers so you are not guessing.
Compare My OptionsLocal Market
Metairie FHA Market
Metairie is Jefferson Parish's largest community and one of Louisiana's most sought-after suburban markets. Strong school districts and walkable retail corridors drive consistent demand.
Metairie sits between New Orleans and Kenner and offers Jefferson Parish buyers more space and newer construction than Orleans Parish at comparable prices.
Key areas: Old Metairie, Fat City, Bucktown, West Metairie, Bonnabel Place
Flood zone note: Metairie has significant flood zone coverage. Many properties require flood insurance, we verify and price this before you shop.
Metairie Market Snapshot
Simple Process
Get a Metairie FHA Loan
in 3 Simple Steps
We handle the mortgage insurance math, the FHA appraisal coordination, and the paperwork, so you can go look at houses in Metairie.
See Your Numbers
A soft credit check tells us where you stand. Nothing hits your report. You find out what you qualify for before anyone pulls hard credit.
Get Pre-Approved
We collect documents and issue a real FHA pre-approval, not a prequalification guess, so your offer holds up against everybody else's in Metairie.
Appraisal & Close
We coordinate the FHA appraisal, handle the property condition items if any come up, and walk you to a clean closing.
Watch & Learn
Watch: FHA vs. Conventional
Which one actually costs you less. Mortgage insurance, the down payment difference, and the part where FHA stops being the better deal, explained in plain language.
The Application
Apply From Your Phone In Fifteen Minutes
The whole FHA application runs on your phone. Snap photos of your documents, connect your bank, and you're done. It reaches me the minute you submit it.
- Starts with a soft credit check, so your score is never touched
- We show you the mortgage insurance cost before you commit to anything
- Upload documents with your phone camera, no scanner needed
- You hear back from Channing, not from a call center queue
If the numbers say wait, I'll tell you that too, and then we make a plan to fix whatever is in the way.
Complete Your Application
Five short steps. Most people finish in about fifteen minutes.
- Tell us what you're looking for
- We check your FHA numbers
- Upload your documents
Your FHA pre-approval letter is ready. I sent it to your email and to your agent.
Got your application. I'm reviewing it now and will call you this afternoon.
Already Own A Home?
FHA Refinance Options In Metairie
If you already have an FHA loan, you have options most people never hear about. One of them gets you out of FHA mortgage insurance entirely, and it is worth knowing about even though it means a different loan.
FHA Streamline
The fastest way to lower the rate on an existing FHA loan. No appraisal in most cases, no income documentation, and no new credit pull in many files.
How The Streamline WorksFHA Cash-Out
Pull equity out for renovations or to clear high-interest debt. FHA cash-out goes to 80% of value, and the credit requirements are more forgiving than conventional cash-out.
See Cash-Out TermsRefinance Out Of MIP
Here is the one that costs me a smaller loan and saves you money: once you have 20% equity, refinancing into a conventional loan drops FHA mortgage insurance for good. Sometimes that is the right move.
Compare ConventionalReal Results
What Louisiana Buyers Say
About Working With Us
Louisiana buyers trust Mortgages by Channing to get their FHA loans done right. Read all Google Reviews →
It was a pleasure working with Channing and Monica! Very knowledgeable people!
Such an amazing personal and trustworthy to there core they were super attentive and walked us through the whole process and patient with all questions asked.
Channing and the team helped us with our first home purchase. They were very responsive and helpful. We were so happy with how fast and efficient every step was.
Highly recommend Channing and Monica to help you get the home of your dreams. They work hard to get you all the information quickly so that you can close the deal!
Channing and Monica were outstanding! On top of every detail, explained everything so wonderfully, super helpful and patient. They made things infinitely less stressful!
As scary as it is buying a home for the first time, the whole process was WAY easier than I ever thought it would be. Channing answered every question I had.
Ready to Buy in
Metairie?
3.5% down, credit from 580, and a straight answer either way. Let's see what your numbers actually say.
Check FHA Eligibility →FHA Loan FAQ
Common FHA Questions
from Metairie Buyers
Still Deciding?
Get A Straight Answer On Your Own Numbers
A soft credit check tells you where you stand. Nothing hits your report until you decide to move forward.
Service Area
FHA Loans Across Louisiana
Mortgages by Channing helps buyers across all 64 Louisiana parishes. Find FHA loan information for your city, or visit our Louisiana FHA loan overview.
Real Closings
Real Clients.
Real Closings.
Real families we have helped get from pre-approval to keys in hand.
Start Your Metairie FHA Loan Today
Free quote, no credit pull to start. Channing Moore reviews your file personally and tells you straight whether FHA is your best path.
Check FHA Eligibility →