An FHA loan is insured by the Federal Housing Administration and protects lenders from financial risk. FHA Mortgages have lower down payment requirements that may be easier to qualify for than a conventional loan. These loans are made by private lenders and insured by the Federal Housing Administration. They require both upfront and monthly insurance payments.
The FHA places limits on mortgage amounts, based on the county where the home is located.

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GUIDELINES

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• In-House Underwriting 

• No Overlays: We underwrite based on

• FHA guidelines. 

• No Tax Returns: Wage earners will only be required to provide 2 years

• W2’s and a pay stub from the previous 20 days – 

• Low Down Payments: 3.5% for 580+ credit scores, & 10 down for 500+ credit scores 

• High DTI OK: 56.9% max DTI with 620+ credit score

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