FHA Home Loans

 

An FHA Home Loan is a mortgage loan that is insured by the Federal Housing Administration (FHA) against default. It was created after a surge of foreclosures and defaults in the 1930's to help stimulate the economy while providing Mortgage Lenders adequate insurance.

  • As little as 3.5% down payment

  • Can be combined with down payment assistance programs to reduce down payment and/or closing costs

  • Minimum 580 FICO required

  • Gift funds permitted

  • Up to 6% seller credits

  • Requires upfront and monthly mortgage insurance

  • Available for single-family, multi-family homes, condos, PUDs and manufactured homes.

  • Available for both purchases and refinances

  • Maximum loan amounts vary by county, call for full details.

Looking to get more out of your FHA loan? Here are some FHA loan options you may not know about:

FHA loans are available for purchase or refinance. We offer a standard FHA Refinance and for those looking to refinancing an existing FHA loan, check out the FHA Streamline Refinance program!

The Energy Efficient Mortgage (EEM), can be paired with an FHA or VA to finance energy conservation improvements into the loan with no additional qualifying.

Many Down Payment Assistance Programs can be combined with an FHA mortgage to reduce the down payment, closing costs or both. Programs range from grants, which require no repayment, silent seconds, tax credits, and more. Use our Down Payment Search Tool to learn more about programs that may be available to you.

FHA loans are not just for lower loan amounts. Some counties may be eligible for the FHA High Balance mortgage, which allows loan amounts above the conforming loan limits of $548,250.

Members of state public agencies or retirement systems may be eligible for our exclusive CalPATH & PATH Home Loan Program which features reduced lender fees, competitive rates, and a free rate float down. The PATH and CalPATH programs are exclusive to Mountain West Financial.