FHA Loan

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  • Down payments as low as 3.5%
  • Credit scores down to 620 with loan approval
  • For loan amounts up to $472,030
  • More lenient requirements for income and credit history
  • Gifts from family are allowed for down payment and closing costs
  • Sellers can contribute up to 6% towards costs, including discount points, buydown fees, and buyers’ closing costs
  • Non-occupant co-borrowers are allowed*

Our FHA program offers a variety of benefits for buyers, especially first timers or those without large down payments or with credit challenges. Contact us at (812) 469-9928 or 1-800-800-9271 today for more information.


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What information will Liberty FCU need to process my application?
  • Prior two years addresses and dates of residence.
  • Social Security number or tax ID.
  • Driver’s license or state issued identification card.
  • Prior two years employment information including employer contact and dates of employment.
  • Most recent W2 and pay stub for all income sources.
  • Two years federal tax returns, including tax applicable schedules if you are self-employed, have rental income, farm income or additional non-W2 reported income.
  • Alimony, child support or separate maintenance documentation if you wish to have it considered as basis for repaying this obligation.
  • Additional information may be required such as Divorce decree (if applicable) and/or proof of extra income such as rental income, dividends, Social Security, retirement, disability, pension, or welfare (supporting documentation is required).
  • Balance owed on all liens attached to the property including all mortgages as well as any home equity loans or lines of credit.
  • Most recent mortgage statement (if applicable).
  • Most recent property tax bill.
  • Most recent hazard insurance declaration page.
  • Most recent flood insurance declaration page (if applicable).

Rates accurate as of June 14, 2024 and are subject to change throughout the day. All mortgage rates include Extra Credit Discount.

Loans are subject to credit review and approval. A sample monthly payment on a 30-year fixed loan amount, based on a $100,000 purchase price with $3,500.00 down (3.5% minimum down payment required), no points, monthly payments based on an interest rate of 3.75% interest rate, is $463.12. Rate listed is for a first-lien mortgage on owner-occupied single-family detached primary residences only. The payment listed does not include property taxes or homeowners insurance, MI is included.

The rate may vary depending on each individual’s credit history and underwriting factors. All loan programs, rate terms and conditions are subject to change at any time without notice. Property insurance required. Minimum loan amount may apply. Other restrictions may apply. *Down payment funds may also come from someone else in the form of a gift, so long as that gift and the giver meet certain FHA requirements, according to HUD 4155.1 Chapter Five Section B. **Other lending guidelines apply according to HUD 4155.1 Chapter Four Section A.1.f. Liberty FCU mortgage lending product availability may vary based on property location.