Welcome to Simply Approved Mortgages, where we specialize in FHA mortgages to help you secure your dream home with ease. Our expert team is dedicated to providing personalized mortgage solutions tailored to your needs. Discover how an FHA loan can be your gateway to homeownership today!
FHA mortgages, backed by the Federal Housing Administration, offer a unique opportunity for homebuyers. These loans are designed to assist first-time buyers, those with less-than-perfect credit, and individuals who may not have a large down payment. With flexible requirements and competitive rates, FHA loans are an excellent option for many buyers.
As low as 3.5% of the purchase price.
Easier to qualify for compared to conventional loans.
Often lower than those of traditional loans.
Future buyers can take over your FHA loan under its current terms.
Our team of mortgage professionals has years of experience and a deep understanding of FHA loan requirements.
We work closely with you to tailor the mortgage to your specific needs and financial situation.
Enjoy a streamlined application process with quick approvals and closing.
No hidden costs—just clear, upfront information.
A minimum of 580 for a 3.5% down payment, or 500-579 for a 10% down payment.
As low as 3.5% of the home’s purchase price.
Generally, your monthly debts should not exceed 43% of your gross monthly income.
The property must be your primary residence.
FHA loans require as little as 3.5%, whereas conventional loans may require 5-20%.
FHA loans are more forgiving of lower credit scores compared to conventional loans.
FHA loans require an upfront mortgage insurance premium and monthly insurance payments, while conventional loans may require private mortgage insurance (PMI) if your down payment is less than 20%.
A 30-year fixed mortgage is a type of home loan where the interest rate remains the same throughout the 30-year term, resulting in predictable monthly payments.
No, FHA loans are intended for primary residences only. If you’re looking to purchase an investment property, you may want to consider other loan options.
You may still qualify for an FHA loan. Typically, a Chapter 7 bankruptcy must be discharged for at least two years, and a foreclosure must be resolved for at least three years.
Simply Approved Mortgages is committed to providing top-notch mortgage solutions and exceptional customer service. Learn more about our services and team.
Company State License# AZMB - 0944059 | NMLS# 1660690