Federal Housing Administration (FHA) Loans

What is an FHA Loan?

FHA Loans are government-backed loans that are ideal for first-time homebuyers who have limited savings for a down payment and less than perfect credit.

 

This means you can buy a home even if you have limited resources, making these types of loans some of the most popular among first-time buyers.

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As an established FHA loan lender, our team here at Security First Financial will help you take the necessary steps to finance and move into your dream home...

What are the Requirements for an FHA Loan?

  • Down payments as low as 3.5%
     

  • Credit scores as low as 580 (Currently 620+ with temporary Covid-19 policy)

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  • Intend to use the property as your primary residence
     

  • Steady income history or you've at least worked for the same employer for the past two years
     

  • Must have a valid Social Security number & be a lawful U.S. resident
     

  • Have an appraisal performed on the property by an approved appraiser
     

  • Mortgage Insurance is required upfront (financed into the loan or paid in cash) and annually (paid monthly as part of the mortgage payment)

FHA Loan Highlights

  • Down payment can be gifted from a relative, borrowed from an eligible 401K or provided through an approved state or local program (learn more about down payment assistance programs)
     

  • Seller can contribute up to 6% of the purchase price towards closing costs
     

  • Co-signers are allowed, but must be eligible borrowers
     

  • Loan limits vary by county - Denver County loan limit - $561,200*, El Paso County Loan Limit - $339,250*, Arapahoe County loan limit - $561,200*
    (Contact us for the FHA Loan Limits in your County)

Our team is here to answer any questions you have.


We can help you understand more about:
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  • Loan Programs

  • Rates

  • The loan process

  • What you'll need for your application

  • What to expect after you complete your application

Apply for an FHA Loan Online:

Homebuying Resources
Borrower Checklist - Nick Barta - Securi
Mortgage Down Payment Facts - Nick Barta

At Security First Financial, we’re dedicated to ensuring that each customer has a great experience. Our local home loan originators have decades of combined experience in the mortgage industry and can help you find the right mortgage based on your needs. We are happy to answer any questions you may have along the way to make sure your mortgage loan process is a good one from start to finish. Contact Us Today To Get Started

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63 Inverness Dr E # 250, Englewood, CO 80112

Office: (303) 740-8300 | Fax: (303) 740-8304

 

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Security First Financial is a division of Primary Residential Mortgage, Inc. PRMI NMLS 3094. Branch NMLS ID# 385589. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Colorado – Regulated by the Division of Real Estate, UCCC #987701-016. Arizona – Arizona Department of Financial Institutions 0902614. Massachusetts – Licensed by the Massachusetts Division of Banks as a Broker and Lender as #MC3094.


Your opinion is greatly appreciated, we thank you for visiting this website of Primary Residential Mortgage, Inc. If you have specific questions, comments, concerns or complaints we invite you to contact us by the email shown here: ConsumerVoice@primeres.com. Emails received during business hours, should receive a response within 48 hours, excluding weekends or holidays.

 

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