Government
FHA Mortgages
Dreaming of homeownership? FHA mortgages, insured by the Federal Housing Administration, offer an accessible path, especially for first-time buyers and those with limited savings. With a lower down payment requirement and flexible credit score criteria, starting at a base rate of 6.25%, FHA loans make owning a home a reality for more people.
Program Benefits
Lower down payment requirements, often as low as 3.5%.
More lenient credit score requirements compared to conventional loans.
Helps first-time homebuyers enter the market more easily.
Competitive interest rates, with base rates starting at 6.25%.
Can be used for a variety of property types, including single-family homes, townhouses, and condos.
Assistance with closing costs may be available.
Program Highlights
Max LTV
96.5%
Min Credit Score
580
Max DTI
50%
Loan Amount Range
$50K - $1M+
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
- Manufactured Housing (with restrictions)
Program Requirements
Income Documentation
- •Stable and verifiable income is required.
- •Debt-to-income ratio must meet FHA guidelines.
- •Income documentation such as pay stubs and tax returns will be needed.
- •Job history and stability are considered.
Asset Verification
- •Sufficient funds for down payment and closing costs.
- •Funds must be sourced and documented.
- •Reserves may be required depending on credit profile and loan amount.
- •Gift funds are typically allowed with proper documentation.
Insurance & Title
- •Mortgage insurance is required for all FHA loans.
- •Both upfront and annual mortgage insurance premiums apply.
- •Hazard insurance is required to protect the property.
- •Flood insurance may be required depending on the property's location.
Property Requirements
- •Minimum FICO score of 580 is generally required for maximum financing.
- •Borrowers with lower credit scores may still qualify with a larger down payment.
- •A history of on-time payments is essential.
- •Derogatory credit events such as bankruptcies or foreclosures will be reviewed.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
The minimum down payment for an FHA loan can be as low as 3.5% of the purchase price for borrowers with a credit score of 580 or higher. Borrowers with lower credit scores may be required to make a larger down payment.
The maximum FHA loan amount varies by county and is determined by the FHA. You can find the loan limits for your specific area on the FHA website or by contacting one of our loan specialists.
Yes, FHA offers refinance options, including streamline refinances which may require less documentation and appraisal.
FHA loans can be used to purchase a variety of property types, including single-family homes, townhouses, condominiums, and manufactured homes (with certain restrictions). The property must meet FHA's minimum property standards.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
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"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
