Mortgage Warehouse is approved to originate FHA mortgage loans. The FHA loan is a federal assistance mortgage loan that is insured against default by the Federal Housing Administration. FHA loans can only be issued by certain qualified lenders. Mortgage Warehouse has FHA direct endorsed (DE) underwriters on staff which allows us to make approval decisions and underwrite FHA mortgages in house. This gives us a tremendous customer service advantage over other companies that have to rely on 3rd party sponsors or HUD for FHA approval decisions.
FHA loans are a popular choice for the first time home buyer and those looking to refinance with less than 20% equity in their home. Benefits of FHA loans include:
- Low fixed rates
- Homeowners can borrow up to 97.75% of their equity when refinancing
- Requires only a 3.5% down payment when purchasing a home
- FHA loans may be used to pay off auto loans, credit cards, personal loans, or fund home improvements
- Homeowners with less than perfect credit may qualify
- FHA loans may be assumable
- FHA loans have no penalty for early payoff
Those interested in a FHA loan should speak with one of our licensed mortgage professionals.
FHA Loans can only be issued by federally qualified lenders such as Mortgage Warehouse. Our HUD/FHA License number is 22603-00004.