FHA Mortgage Lender
Many people put off buying a house because – let’s face it – getting a loan can seem very troublesome, especially if you’re not in the best financial shape. Are you concerned that your credit score might get in the way of your chances to get a home loan? Do you think you can’t afford the down payment? Have you gone through foreclosure or bankruptcy in the past? Are you wondering if an FHA-insured loan is the right home loan program for you? If you’ve always wanted to own a home, but the situations mentioned above keep you from going for it, FHA loans may be the way to go.
How a FHA Loan Works
An FHA loan is a mortgage program insured by the US Department of Housing and Urban Development (HUD). The FHA loans aim to boost the housing market and improve housing conditions across the country by making it easier for persons with marginal credit or lower incomes to get a home loan. FHA lenders can offer loans with less rigorous conditions to qualified borrowers with the government’s guarantee.
Pros And Cons Of An FHA Loan
It’s not difficult to get approved for an FHA loan, as long as you have a stable source of income, enough assets for the down payment and reserves, and a credit score of at least 500.  FHA loans require a mortgage FICO score of at least 580 to qualify for a 3.5% down payment. If your score is below 580 down to 500, you may still be eligible with a 10% down payment, and certain restrictions will apply.
There is no minimum or maximum income requirement to qualify for an FHA loan. What’s essential is stable employment and income. A borrower must have a 2-year verifiable work history; ideally, employed in the same line of work for at least two years. Also, you must be a U.S. citizen or permanent resident with a valid social security number.
Borrowers must have sufficient assets to show where their source of funds to close the loan will come from. Besides the 3.5% down payment requirement, there are also closing costs and prepaid items to contend with. However, FHA allows gifts funds for the down payment and up to 6 percent in seller concessions for closing costs and prepaid items.
While the FHA loan has many positive aspects, it has certain drawbacks that can be huge deal breakers for some borrowers.
Property Standards
To be eligible for an FHA loan, a home must meet strict structural and safety requirements. An FHA-approved appraiser will conduct an inspection to determine whether or not the home meets FHA’s occupancy and property standards. If the home does not pass the inspection, the owners may have to renovate and make the necessary repairs first, or the borrower can look for another property.
Mortgage Insurance Premiums
The most considerable drawback of getting an FHA loan is has to pay two different kinds of Mortgage Insurance Premiums (MIP). The first type of insurance is paid upfront, while the second type is payable monthly as part of your mortgage payments.
In addition, the Mortgage Insurance Premium on FHA loans is for the life of the loan. Unlike conventional loans, the insurance payments do not stop after 20 percent of the equity has been satisfied. The only way to eliminate FHA’s Mortgage Insurance Premium is to refinance to a conventional loan or completely pay off the entire mortgage.
Apply For An FHA Loan
As with most things in life, the FHA loan has two sides. And because every situation is different, it is up to you to decide if the pros outweigh the cons for you. If you’d want a deeper understanding of the credit’s nature and standards, consult our FHA Loan Specialists to get started on your path to homeownership.
Why HomeBuyers Are Choosing Capital Home Mortgage
Close On Time
Control of the Loan from Application to Funding
Great Rates & Low Fees
Direct Lender Providing Competitive Rates and Low Fees
Exceptional Customer Service
7Â Day a Week Support Application to Final Mortgage Payment
Capital Home Mortgage Rates
Have you ever wondered why interests rates are what they are and what determines the final rate? Why borrowers receive different interest rates? Or why rates go up and down? Interest Rates are calculated using several factors.
- Demand for the mortgage Securities
- Property securing the mortgage
- occupancy of the property
- Loan to value of the property
- Borrower’s credit worthiness
FHA Home Purchase Loans

- Simple Qualifying
- Smaller Down Payment
- Seller Paid Closing Costs
- Flexible Underwriting
- Higher Debt to Income Ratios Allowed
- Lower Credit Scores Allowed
- Manufactured Housing OK
FHA Refinance Home Loans

FHA offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan. This rate and term option can be fully documented loans, or can be reduced documentation. The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property.
FHA Standard Refinance
- Appraisal Required
- 97.75% Max Loan to Value
- Closing Costs Can Be Rolled In
- 80% Max Loan to for Cash-out
- Cash-out Option Available
- County Loan Limits Apply
FHA Streamline Refinance
- FHA to FHA
- No Income Qualification
- No Appraisal Required
- Closing Costs Cannot Be Rolled In
- No Lates on Mortgage in Last Year
- Payment Must Drop on Fixed Rates
FHA Renovation Home Loans

FHA offers both a Steamline and Full Rehabilitation Loans. This is a great option for 1st time homebuyers looking to purchase a home that needs a little TLC.
- Purchase & Refinance Options
- Primary Residences Only
- Single, Multi Family & Condo’s
- As-Is Improved Renovated Value
- 203K Streamline
- Less < 35K, Cosmetic Repairs Only
- 203K Full Rehab
- Greater > 35K, No Restrictions
Mortgage Loan Programs
Home Purchase
Thinking of Buying a Home?
Looking to Purchase a Home? We have the loan for you… Call today to speak with a loan officer to discuss your personal mortgage options.
- Primary, Secondary, Investment
- FHA, VA, USDA, Native American
- Conventional, Jumbo, Non QM
- Reverse, Renovation, Manufactured
renovation home loans
Looking to Rehab a Home?
Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan? Purchase the Perfect Home and make it your own. Call today.
- Remodel, Renovate or Repairs
- FHA 203K Streamline or full
- fannie mae homestyle reno
- freddie mac home choice reno
FHA Home Loans
Great for 1st Time Homebuyers
FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.
- Smaller Down Payment
- Flexible Underwriting
- Higher Debt to Income Ratios
- Lower Credit Scores OK
VA Home Loans
100% Financing for Veterans
Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
- Simply Qualifying for Veterans
- No Down Payments Requirements
- Lower Credit Scores Accepted
- Manual Underwriting Allowed
Conventional Home Loans
Flexibility for Homebuyers
Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.
- Primary, 2nd Home, Investment
- Great Rates & Low FeesÂ
- Single Family and Multi-Family
- Renovation Loan Programs
Jumbo Home Loans
Non Conforming Loans
Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today to speak to a loan officer.
- Primary Residence and 2nd Homes
- Higher Loan Amounts – 3 Million
- Great Interest Rates
- Investor Specific Guidelines
USDA Home Loans
100% Rural Home Loans
USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.
- Rural Properties Only
- Primary Residence Only
- Geographic Restrictions
- Income REstrictions
Native American Home Loans
HUD 184 Home Loans
HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
Manufactured Home Loans
Great Alternative Housing
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
reverse mortgages
Your Home at Work
Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
- primary residence only
- simple qualifying – equity based
- credit scores not applicable
- Minimum age 62
Non QM Home Loans
Making Mortgages Possible
Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
- Purchase, Rate and Term & Cash-out
- Primary, Secondary and Investment
- Full Doc & Bank Statements Programs
- Corporations OK
One Time Close mortgages
Build Your Dream Home
Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.
- Primary Residence Only
- Close Once
- Lock Rate at Contract
- Traditional Final Mortgage
Refinance Mortgage Loans
Rate & Term Refinance
Refinancing can be a hard decision and the payback can sometimes be confusing. Call today and let our Loan Officers walk you through the process.
- Reduce Mortgage Term
- Lower Monthly Payments
- Appraisal Waivers
- Streamline Options Available
Cash-out Home mortgages
Equity Mortgage Loans
Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Vacation or Education