FHA Loan Common Questions

Check out our list of common questions related to FHA mortgages. Check out our list of common questions related to FHA mortgages.

What is the FHA?

  • FHA stands for the Federal Housing Administration. The Federal Housing Administration provides mortgage insurance on loans made by FHA-approved lenders throughout the United States. FHA insures mortgages on single family and multifamily homes. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934.

What makes a FHA insured mortgage beneficial?

  • A FHA insured mortgage is easy to qualify for, can be obtained with less than perfect credit, lowering closing costs and requires a smaller down-payment.

Where can I find FHA forms and other literature?

What is the FHA loan limit in my area?

  • The loan limit across the country is different. Click here to see limits in your area.

Can I pay an FHA loan off early?

  • Yes, however be sure to check the pre-payment section of your contract before signing.

Can I refinance a fixed rate FHA loan?

  • Yes. Talk with one of our professionals today to see if refinancing makes sense for you.

What is the recommended debt-to-income ratio for FHA loans?

  • The recommended debt-to-income ratio for a FHA loan is 30%.

Are FHA loans assumable?

  • Absolutely, you can assume an existing FHA loan or allow a buyer to assume yours.

Will I have to pay mortgage insurance with an FHA loan?

  • Yes, in fact FHA mortgages often require you to carry mortgage insurance for longer than most conventional loans.

Can I get a "fixer-upper" of a home with a FHA mortgage?

  • Yes, however you might be required to fix certain problems in the home before you can get the full loan. Speak with us today for details on this.

David Ross

Supreme Lending

2520 St. Rose Pkwy, Suite 110
Henderson , Nevada 89074
Phone: 702-483-8122
Fax: 702-942-1808
David's NMLS: 262463
Company NMLS: 2129

Website authorization by the New York State Department of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site.

© 2016 EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING (NMLS ID #2129) at 14801 Quorum Dr., #300, Dallas, TX 75254. All rights reserved. For all licenses, visit http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/2129.

In accordance with Section 326 of the USA PATRIOT Act of 2001, Supreme Lending is required to obtain a copy of the documents used in identifying our new account customers. This notice is being provided to you for adequate notice given under this act.

Supreme Lending is not responsible for the third party’s privacy policies and/or content.