FHA Home Loans

Compared to other home loans, FHA is typically the most flexible mortgage product with lower minimums for down payment and credit score, while allowing a higher debt-to-income (DTI) ratio. A FHA loan is typically the best home loan option for first-time buyers who are not military veterans or the house is not in an eligible rural area designated by USDA.

FHA has a NEW 100% Financing Home Loan Program for eligible purchase or refinance borrowers. You do not have to be a first-time homebuyer to qualify.

GMFS Mortgage has funded over 26,000 FHA home loans

FHA Home Loan Features

96.5% maximum financing
Upfront mortgage insurance required as well as a monthly amount for term of loan
Expanded qualifying ratios and flexible credit guidelines
FHA maximum loan amount varies by geographical area determined by FHA
No income limits or location restrictions
Can be used for purchases and refinance

FHA 100 Percent Loan

100% Combined Loan to Value Financing
◦ 2nd lien for up to 30 years
◦ or “plus 2%” 2nd lien for 10 years (forgivable*)
Primary Residences only
Funds Can Be Used for Down Payment or Closings Costs
Low Credit Score Requirements
First Time or Repeat Homebuyers
Free Homebuyer Education Required
Generous Income Limits
Available in all States GMFS Mortgage does business

*2nd lien is forgivable if: a. The loan has reached 10 years from Note date AND b. The loan is not paid off or called due within the first 10 years from the Note date c. The property is not sold, transferred, or otherwise disposed, include through foreclosure or transfer

Click to Calculate Your FHA Loan Payment

Contact a GMFS Mortgage Loan Officer today!

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Greg was fantastic to work

Greg was fantastic to work with. He explained things in a way that was easy to understand and helped guide us through the process smoothly. As a first time home buyer, this was much appreciated.

I’d 100% recommend GMFS to

I’d 100% recommend GMFS to anyone at anytime! My son and I are beyond grateful for Mr. Blake, Ms. Sandy and Ms. Robin, they all were AMAZING! This home buying experience was a 1st for me. I was so nervous and even doubtful at first, but once the process got going, that all went away. I’m so thankful for them! God bless all!!!!!

Great experience for a first

Great experience for a first time home buyer! John made us feel so comfortable for the whole purchase process.

Extremely knowledgeable and was a

Extremely knowledgeable and was a simple process that could have been a nightmare for a first time home buyer. Ryan and Adam were absolutely great to work with. Without a doubt, if I needed a mortgage agent I wouldn’t hesitate to call Ryan and his team again. Very impressed!!!!

I had an amazing first

I had an amazing first time home buying experience. MeLisa and team went above and beyond to bring us to the closing table, and did it in such a timely manner. MeLisa was amazing to work with and kept me in the loop every step of the way!

Landon F.

Debbie did an incredible job every step of the way from the application all the way to closing. She was the only lender from the list I inquired from that bothered to call me to have an actual conversation about where I was at and what was right for me. Highly recommend, especially for any first time home buyers that are feeling nervous and not sure where to begin.

Garrett T.

Worked with Paul Plaisance to secure lending for our first home. Paul made it a very easy process. He was informative, clear, fair, and always accessible by phone or text. Thanks to Paul we secured lending at a great rate and did it timely so we could close on time!

WHY GMFS MORTGAGE?

Our avg. customer feedback rating = 4.8 stars! Experience for yourself why so many of our customers and partners refer GMFS Mortgage to their family, friends and clients!

Established

Over 150,000 customers and $30 billion in residential mortgage funding in 23 states

Efficient

Processing, underwriting, and closing under same roof means smooth & predictable closings

Trusted

A+ rating with BBB and winner of Torch Award for Marketplace Trust

Experienced

GMFS staff has an avg. of 14+ years of mortgage industry experience

*Government loans such as FHA, USDA and VA typically have more flexible guidelines than conventional loans but interest rates are typically higher.

*Not a commitment to lend. All loans subject to credit and property approval. The following terms are for illustrative purposes only. Rates, payments, and loans terms vary by consumer based on their individual qualifying information. The payment amount illustrated does not include the amounts for taxes, property insurance, or mortgage insurance.

Loan Term	Down Payment	Annual Percentage Rate	Estimated Monthly Payment
30 year fixed rate	10% (90% LTV)	4.75%	$1,043