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Is there a minimum loan amount for fha loans?

by samcoshling840 from Joliet, Illinois. Oct 20th 2015 Reply


Jesse Stroup (jessestroup)
#4 ranked lender in Idaho - 591 contributions

All mortgage lenders have different min loan requirements. Some investors will lender as low as $50,000.00 (That is based on the info I have personally seen). Some may go lower; your best bet would be contacting a local mortgage broker as they may offer the best loan programs for your area. If that doesn't work call a local credit union.Jesse Stroup California Mortgage Professional www.CaliforniaHomeLoanLender.comwww.JesseStroup.comNMLS# 6229

Oct 20th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

FHA does not have a minimum loan amount but FHA does not lend money.. they only insure loans against default.. each lender offering FHA will have their own rules and guidelines.. For some it's $40K while others might want $70K or even $100K minimum loan amount.. so if your looking for a specific answer, try contacting a local mortgage broker and let them look at your complete loan scenario.. the broker deals with many different lenders, with each one offering a different set of lending guidelines.. the more lenders, the more lending options, and the greater likelihood your loan will get approved. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Oct 20th 2015
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Kay Cleland (kay@kcmortgagecolorado.com)
#32 ranked lender in Colorado - 215 contributions

Hello Sam,I would definitely shop around. Contact a mortgage professional in your area by going to: www.namb.org and click on Find a Professional. They can discuss your options and help you.

Oct 20th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

It depends on the lender. For instance, the lowest my company will go is $50,000. But you might find some others, especially portfolio banks who will go lower.

Oct 25th 2015
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