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FHA Mortgage Lenders

Welcome to US Mortgage Lenders FHA information page, we are a leading FHA mortgage resource proving the most up-to-date FHA mortgage information for both FHA purchase and FHA streamline or Cash out FHA mortgage refinance loans. FHA Mortgage specializes in  Federal Housing Administration (FHA) mortgage information for move up buyers, first time home buyers and current FHA mortgage homeowners. This government-insured FHA mortgage loan is backed by the United States Federal Housing Administration and provides a number of homeownership opportunities. With FHA mortgage insurance home buyers can purchase a home with a 3.5% minimal down payment and seller paid closing cost up to 6% of the sales price.

The purpose of the FHA is to provide government mortgage insurance for loans made by FHA-approved mortgage lenders, banks and other mortgage companies.. The sole purpose of the FHA is to increase homeownership by making FHA mortgage loans more affordable and easier to qualify for. The FHA itself is not a direct FHA mortgage lender, but rather a government entity that provides the FHA mortgage insurance needed for private FHA mortgage lenders. FHA mortgage insurance protects the mortgage lender or bank from losses with the FHA mortgage insurance the borrower pays. FHA mortgage loans bridge the gap between approved lenders and homebuyers by providing a new  financing option to bridge the gap where bank loans do not serve the public. 


  • Down payment only 3.5% of the purchase price. 
  • Gifts from family or Grants for down payment assistance and closing costs OK! 
  • Seller can credit buyers up to 6% of sales price towards buyers costs. 
  • No reserves or future payments in account required.
  • FHA regulated closing costs. 


  • Purchase a home 12 months after a chapter 13 Bankruptcy 
  • Purchase a 24 months after a chapter 7 Bankruptcy.
  • FHA will allow a FHA mortgage 3 years after a Foreclosure.  
  • Minimum FICO credit score of 580 required for 96.5% financing.
  • Bad credit FHA mortgage approvals minimum FICO credit score of 500 required for 90 FHA financing.
  • No Credit Score mortgage loans & No Trade Line FHA home loans.


  • FHA allows higher debt ratio’s than any other home loan programs. 
  • Less than two years on the same job is OK! 
  • Self-employed buyers can also qualify for FHA. 


FHA MORTGAGE REFINANCING OPTIONS- FHA mortgage refinancing benefits current  home owners that are seeking to FHA mortgage refinance an FHA mortgage. An FHA mortgage refinance will also benefit mortgage applicants that DO NOT currently have an FHA mortgage. FHA mortgage refinancing offers current homeowners the most flexible FHA refinancing options available. We can even FHA mortgage refinance Bad Credit Mortgage applicants with our FHA 530 Mortgage. Below you will find some different ways  FHA mortgage applicants can take advantage of an FHA mortgage refinance.

• FHA CASH OUT REFINANCE: homeowners can FHA cash out refinance with FHA mortgage at a higher loan to value than any other  mortgage program. With an FHA mortgage refinance, current homeowners can cash equity built up in their homes; up to 85% of the home’s FHA appraised value, to spend how they please.

• FHA MORTGAGE REFINANCE TO CONSOLIDATE DEBT: Current homeowners with higher interest credit cards and other high interest debt can be consolidated into one low monthly  FHA mortgage payment with an FHA debt consolidation refinance.

• FHA MORTGAGE REFINANCE TO LOWER PAYMENTS: homeowners with higher interest rate mortgage loans, including adjustable rate FHA mortgages, can use an FHA mortgage refinance to lower their monthly housing obligation. In addition, FHA mortgage applicants can FHA refinance into a 15-year, 30-year or 40-year fixed rate  FHA mortgage to lower the mortgage monthly payments.

• FHA STREAMLINE MORTGAGE REFINANCE: FHA streamline mortgage refinancing is perfect for  homeowners who currently have an FHA mortgage and want to reduce their interest rate thus lowering payments. With an FHA streamline mortgage refinance,  homeowners can FHA refinance their mortgage payments with no credit check and no appraisal. The only FHA streamline refinancing condition is that the homeowner has to be current on the FHA mortgage. Your mortgage payments must be current to qualify for an FHA streamline refinance.

FHA Mortgage Lenders credit overview applies to all credit qualifying FHA mortgages (purchases and credit refinances including FHA-to-FHA transactions) where DU Desktop underwriter issues a “Refer” scoring recommendation is  Credit Approvals by the underwriter.  This FHA credit approval information also applies if the credit mortgage was not scored through DU (i.e. credit qualifying Streamlines).  Non-credit FHA and or Bad credit FHA mortgage qualifying credit refinance and FHA mortgage purchase transactions. 
The credit mortgage applicants is not eligible for FHA-insured financing if the Minimum Decision Credit Score ( Credit Score) is less than 500.
If the Credit Score is between 500 and 579 the credit mortgage applicants is limited to a maximum loan-to-value (LTV) of 90%. And, with a credit score down to 500 the lender does have tighter credit qualifying requirements including 4-6 months future payments in the account at closing and all past collections to show zero balance.  
If the Credit Score is at or above 580 then credit mortgage applicants are eligible for maximum financing 3.5% down FHA mortgage approvals. The credit mortgage lender must downgrade and credit mortgage approvals underwrite a mortgage that received an Accept recommendation if only the non-occupying co- credit mortgage applicants have a credit score.  credit mortgage applicants with non-traditional or insufficient credit histories are eligible for maximum financing.


  • Minimum 580 CREDIT SCORE FOR 3.5% DOWN
  • Minimum 500-580 for 10% DOWN      
  • Reserves of at least 1 month’s PITIA + MIP required for 1 and 2 unit properties.  
  • Reserves of a least 3 month’s PITIA + MIP required for 3 and 4 unit properties.·       
  • A credit approval  recommendation requires the credit mortgage applicants to provide an explanation for major indications of derogatory credit, such as judgments and collections, and any minor indications within the past two years.·     
  •   Standard maximum credit DTI is 31/43. Loan still must meet the reserves requirement as defined in the bullet point above. 
  • Exceeding these DTI maximums are allowed with acceptable compensating factors for the following situations:
  • o       Max DTI 31/43 with no compensating factors required      
  • Max DTI 37/47 with one of the following compensating factors:     
  • Verified and Documented Cash Reserves: 3 months PITIA + MIP in reserves for 1-2 unit properties, or 6 months PITIA + MIP in reserves for 3-4 units.     
  •  Minimal Increase in housing payment: New PITIA + MIP is not > $100 or 5% higher than the previous monthly housing payment, whichever is less; and 12-month housing payment history is <= 1X30.
  •  Cash out transactions requires 0x30.  If the credit mortgage applicants has no current housing payment, DE UW may not cite this compensating factor.§        
  • Residual Income: Sufficient Residual Income as calculated per VA requirements. 
  • o      Max DTI 40/40 with no discretionary debt as a compensating factor subject to the following requirements:
  • The credit mortgage applicants’ housing payment must be the only open account with a balance and payment that is not paid off monthly;
  • The credit mortgage applicants’ credit report shows established credit lines in their own name open for at least 6 months; and
    • The credit mortgage applicants must document that these credit accounts have been paid off in full monthly for at least the past 6 months.
      credit mortgage applicants who have no established credit other than their housing payment, no other credit lines in their own name open for at least 6 months, or who cannot document that all other accounts are paid off in full monthly for at least the past 6 months, do not qualify under this criterion. Credit lines not in the credit mortgage applicants’ name, but for which he or she is an authorized user do not qualify under this criterion.o       Max DTI 40/50 with two of the following compensating factors:§       Verified and Documented Cash Reserves:3 months PITIA + MIP in reserves for 1-2 unit properties, or 6 months PITIA + MIP in reserves for 3-4 units.§       Minimal Increase in housing payment: New PITIA + MIP is not > $100 or 5% higher than the previous monthly housing payment, whichever is less; and 12 month housing payment history is <= 1X30.  Cash out transactions require 0X30.§  If the credit mortgage applicants has no current housing payment, DE UW may not use this compensating factor.§       Residual Income: Sufficient Residual Income as calculated per VA requirements.  (See FHA Handbook 4000.1 II.A.5.(F) and VA Lenders Handbook- VA Pamphlet 26-7 for details)§       Significant Additional Income Not Reflected in Effective Income:  Additional income from overtime, bonuses, part-time income or seasonal employment can be used as a compensating factor if the DE UW verifies and documents the following:
    • The credit mortgage applicants has received this income for at least one year, and it will likely continue and
    • The income, if it was to be included in gross effective income is sufficient to reduce the DTI to not more than 37/47.

Note: This compensating factor may be used only in conjunction with another compensating factor when qualifying      ratios exceed 37/47 but are not more than 40/50. Income from non-borrowing spouses or other parties not obligated for the credit mortgage may not be counted unless they are on the credit mortgage application.

   The Credit Mortgage Applicants Credit Score refers to:
• The credit score reported on the credit mortgage applicants’ credit report when all reported scores are the same.
• The lowest credit score where two differing scores are reported. 
• The credit middle score where three differing scores are reported.

A Credit Score is determined for each credit mortgage applicants. Where the mortgage involves multiple credit mortgage applicants, the lender must determine the Credit Score for each credit mortgage applicants and then select the lowest Credit Score for all credit mortgage applicants.  Where the mortgage involves multiple credit mortgage applicants and one or more of the credit mortgage applicants do not have a credit score (non-traditional or insufficient credit), the lender must select the lowest Credit Score of the credit mortgage applicants(s) with credit score(s).   The lender must review the credit report to determine the credit mortgage applicants’ Credit Score, except for mortgages to be insured under Sections 247, 248, Streamline Refinances, and Assumptions.  

credit mortgage approvals are underwritten loan includes a loan that involves

  • credit mortgage applicants without a credit score that were not scored against FHA’s Scorecard, or 
  •  Received a Refer scoring recommendation from a result of foreclosure, bankruptcy or other credit issues.
  • Received an Accept scoring recommendation but was downgraded to a Refer by the underwriter.  When an Accept recommendation is downgraded to a Refer, the loan must be underwritten according to the policy guidance in Handbook 4000.1 II.A.5.

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US Mortgage Lenders has an extensive lender network that allows us to provide unique and mortgage solutions. Contact US for the most update information on terms and conditions. All Information on this site Is for example, hypothetical purposes and should NOT be relied on for decision making.
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