FHA loans are a popular financing option for first-time homebuyers and those with lower credit scores. These loans are backed by the Federal Housing Administration and offer numerous benefits, including lower down payments, more flexible credit requirements, and competitive interest rates. At MAI, we're proud to offer FHA loans to help make homeownership more accessible and affordable.

FHA Guidelines

  • Max Loan Amount: $420,680 to Max County Limits
  • MAX DTI: 55% with AUS Approval
  • Down Payment: 3.5%
  • Max LTV
    • Purchase 96.50%
    • Rate/Term Refi. 97.75
    • Cash Out 80%
    • Streamline 125%
  • CLTV: Same as LTV
  • Reserve Requirements: Per AUSFindings or Manual req.
  • Credit Score
    • 620 for Refinance/Purchase
    • 640 Streamlines

 Bankruptcy & Foreclosure

  • Bankruptcy and Foreclosure/Short Sale dates go back 2 or 3 years (respectively) from the date of FHA Case number assignment