Our WCAG 2.1 AA commitment, how we test, the accommodations available to FHA borrowers, and how to report a barrier.
This FHA site targets WCAG 2.1 Level AA: semantic headings, descriptive alt text, labelled form fields, visible focus states, AA colour contrast and keyboard-usable calculators, with automated accessibility checks on every indexable page. If something blocks you, we provide the same information in an accessible format at no charge.
The site targets WCAG 2.1 AA, and we will read illustrations aloud or provide accessible formats on request at no cost.
Reviewed by the licensed mortgage team at Simply Approved Mortgages · Last verified August 23, 2026 against HUD Handbook 4000.1
Ask for an accommodationBuying a home should not be harder because of a disability. We work to keep this FHA site usable with a keyboard, a screen reader, magnification, voice control and reduced-motion settings, and we treat an accessibility barrier as a defect to fix, not a preference.
We aim to meet the Web Content Accessibility Guidelines (WCAG) 2.1 Level AA. Parts of the site are reviewed continuously and we describe our status as partially conformant where third-party embeds or legacy documents are involved.
Semantic headings and landmarks, descriptive alt text on every hero and illustration, visible focus states, labelled form fields with error messages tied to the input, colour contrast checked against AA thresholds, responsive layouts that reflow at 320px, and calculators that can be completed with the keyboard alone.
Accessibility checks run as part of our site quality controller on every indexable page — headings, alt text, form labels, link text and contrast — and a critical failure blocks release. Automated tools cannot catch everything, so we also test key flows such as the pre-qualification form by keyboard and screen reader.
Some embedded third-party content, downloadable PDFs generated from your illustration, and complex data tables of county loan limits may not yet meet every AA criterion. If one of these blocks you, we will provide the same information in an accessible format on request.
We can read a loan illustration to you by phone, provide large-print or plain-text versions of documents, work with a trusted representative you authorize, and give extra time on any step. Ask and we will arrange it — there is no charge for an accommodation.
Tell us the page address, what you were trying to do, and the assistive technology and browser you were using. We acknowledge reports within two business days and aim to resolve or provide a workaround promptly.
We do business in accordance with the Federal Fair Housing Act and the Equal Credit Opportunity Act, and we do not discriminate on the basis of disability or because income comes from a public assistance program.
Email support@simplyapproved.com or call 877-813-7219. Please include the page address and the assistive technology you use.
Simply Approved Mortgages LLC | NMLS #2620881
Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration
Verify our license on NMLS Consumer Access · Full licensing & disclosures
Talk with a licensed FHA broker about your scenario. Licensed in Florida and Colorado.
Complete the short form and we send back a full FHA breakdown: your county loan limit, the minimum FHA down payment, financed upfront MIP, monthly mortgage insurance, and an estimated payment — plus whether down payment assistance can cover your cash to close.
Takes about 3 minutes · No obligation · Summary emailed and shown on screen
Illustration only, generated from the information you enter. Not a Loan Estimate, pre-qualification, commitment to lend, or approval. Subject to appraisal, credit and income review, FHA guidelines, and final lender approval. Equal Housing Opportunity.
Sample figures for illustration only — not a quote, rate lock, offer of credit or commitment to lend. Simply Approved Mortgages · NMLS #2620881 · Equal Housing Opportunity
The trade-offs below are specific to FHA financing. Reviewed August 23, 2026 against HUD Handbook 4000.1 and the current HUD county loan limit file.
A $425,000 example shows the cash and loan structure FHA produces before pricing is added.
| Purchase price | $425,000 |
|---|---|
| FHA down payment at 3.5% | $14,875 |
| Base loan amount | $410,125 |
| Upfront MIP at 1.75%, financed | $7,177 |
| Conventional 20% down for comparison | $85,000 |
Illustration only — not a quote, rate lock, offer or commitment to lend. Subject to lender underwriting and approval.
This is the set an FHA underwriter typically asks for. Having it ready before you write an offer is the single biggest difference between a two-week and a six-week file.
Income documentation is where most FHA files slow down, and it depends on how you are paid. FHA does not apply a different credit score, down payment or county limit to self-employed borrowers — it applies a different documentation standard.
| Item | W-2 employed | Self-employed |
|---|---|---|
| History required | Two-year employment history, with gaps explained. A job change inside the same field is usually fine. | Generally two years of self-employment. A shorter history can sometimes be considered when there is documented prior experience in the same line of work. |
| How income is calculated | Base pay from pay stubs and W-2s. Bonus, overtime and commission generally need a two-year history to be averaged in. | Net income from tax returns, averaged and adjusted for allowable add-backs such as depreciation. Write-offs that reduce taxable income also reduce qualifying income. |
| Documents that open the file | 30 days of pay stubs, two years of W-2s, and a verification of employment. | Two years of personal and business returns, year-to-date P&L and balance sheet, and evidence the business is still operating. |
| Verification at closing | The employer is re-verified shortly before closing; do not change jobs mid-process without telling your loan officer. | Continued existence of the business is re-verified close to closing, typically through a third-party or licensing check. |
| Most common delay | Unexplained gaps, a new job with variable pay, or a VOE the employer never returns. | A declining year over year, or a large deduction that removes the very income needed to qualify. |
| What we suggest | Get the VOE moving on day one — it is the item most often outstanding at the end. | Have your accountant produce the year-to-date P&L before you shop, so qualifying income is known before you write an offer. |
General FHA documentation guidance per HUD Handbook 4000.1, including Update 18 changes to written and electronic verification of employment. Requirements vary by borrower, property, lender and program, and all loans are subject to lender underwriting and approval. Sources: HUD Handbook 4000.1
Prefilled with the 2026 HUD reference median of $415,000 for the United States, a 0.90% effective property tax rate and a directional $2,300 annual homeowners premium. Change any input — the interest rate is your own assumption, not an offer.
FHA minimum is 3.5% at 580+ credit.
Your assumption — not a quoted rate.
Figures are illustrations based on the values you entered — not an offer, rate lock, or commitment to lend. Emailing your scenario sends it to a licensed loan officer in Florida or Colorado.
Estimates for general educational purposes only. Interest rates shown are assumptions you enter, not quoted rates, and nothing here is a rate lock, APR, payment quote, pre-approval, offer or commitment to lend. Results exclude HOA dues, flood or wind policies, mortgage insurance changes, points and lender-specific fees. FHA upfront MIP of 1.75% and annual MIP of 0.55% follow HUD Mortgagee Letter 2023-05 for a 30-year term at 3.5% down. Property tax and insurance inputs are directional state references, not a parcel-level bill. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state. All loans are subject to lender underwriting and approval. Equal Housing Opportunity. Sources: HUD Mortgagee Letter 2023-05 (MIP) · HUD Mortgagee Letter 2025-23 (2026 loan limits) · U.S. Census Bureau ACS · NAIC homeowners insurance · CFPB Closing Disclosure
Mortgage pricing moves the payment a little. Property tax and insurance move it a lot, and they are entirely local. These figures are built from the 2026 HUD county dataset for the United States and national tax and settlement conventions, reviewed August 23, 2026.
| Cost | Estimate | How it works here |
|---|---|---|
| Property tax | $311 / mo | About 0.90% effective on $415,000 — roughly $3,735 a year. Millage is set locally, so verify the parcel's actual bill. |
| Homeowners insurance | $192 / mo | Directional $2,300 a year for a single-family owner policy in the U.S.. Wind, hail and flood may be separate policies. |
| FHA annual mortgage insurance | $184 / mo | 0.55% of the $400,475 base loan at 3.5% down, 30-year term, per HUD Mortgagee Letter 2023-05. |
| FHA upfront MIP | $7,008 | 1.75% of the base loan, normally financed into the $407,483 total loan amount rather than paid in cash. |
| State transfer / documentary tax | Varies | Transfer, deed, recordation and mortgage taxes are set state by state — several states charge none at all. |
| Settlement convention | Title/escrow state | A title or escrow company customarily conducts the closing and issues the policy. |
Property tax and homeowners insurance vary far more between two states than mortgage pricing does — always re-price the escrow on the exact county before you write an offer.
Taxes and insurance are part of the qualifying payment, so a $503 escrow in your county consumes debt-to-income capacity before a single dollar of principal and interest is counted. Underwriting uses the post-closing figures, not the seller's current bill.
Estimates for general education only — not a quote, rate, APR, pre-approval, offer or commitment to lend. Property tax rates are effective rates derived from U.S. Census Bureau ACS data; actual millage is set by county, city, school and special districts. Insurance figures are directional annual premiums, not quotes. Transfer, deed, recordation and mortgage taxes summarise state-level statutes; counties and municipalities frequently add their own. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Sources: U.S. Census Bureau — ACS property tax data · NAIC Homeowners Insurance Report · CFPB — understanding closing costs
Simply Approved Mortgages originates FHA loans directly, so the guidance on this page reflects how HUD's published rules apply to files we underwrite and close — not general industry commentary.
Have your scenario reviewed against your actual documents before deciding.
Continue with the FHA topic that matches where you are, or talk to a licensed loan officer about your own numbers.
What FHA insurance is and who it fits.
Credit, income, DTI and property rules.
580 vs 500–579 and what they change.
3.5% minimum, gift funds and DPA options.
Upfront and annual MIP, and how long it lasts.
County-by-county HUD maximums.
What you pay and what a seller can cover.
203(b), 203(k), streamline, cash-out and more.
Payment, affordability, MIP and break-even tools.
Step-by-step from budget to closing.
Short on cash to close? Ask about the FHA DPA, offered through Simply Approved Mortgages: 2.5%, 3.5%, or 5% of your loan amount toward your down payment and closing costs, structured as a 10-year repayable second lien at your first-mortgage rate + 2%. FICO 580+, primary residence only — it's an option on every loan program on this site.
Enter a purchase price, pick an assistance tier, and confirm property and residency. Results are illustrative — not a quote or commitment.
Simply Approved Mortgages DPA
Estimate 3.5% assistance on the lesser of price or appraisal, layered over a 30-year fixed FHA first mortgage.
Illustrative only — not a quote, lock, offer, or commitment to lend. Binding figures appear only on your Loan Estimate and Closing Disclosure.
Documentable qualifying income?
Willing to complete homebuyer education before closing?
Property in NY, WA, USVI, Guam, MP, or AS?
Answer each question above to see your preliminary result.
Figures are illustrations based on the values you entered — not an offer, rate lock, or commitment to lend. Emailing your scenario sends it to a licensed loan officer in Florida or Colorado.
Preliminary self-check only — no credit pulled. Not a quote, lock, offer, or commitment to lend. Simply Approved Mortgages is not affiliated with HUD, FHA, VA, USDA, FHFA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.
At Simply Approved Mortgages, we believe borrowers deserve clear information, professional guidance, and access to competitive mortgage solutions.
Our company is built around a straightforward philosophy: provide transparent mortgage guidance, maintain a consistent compensation structure on most transactions, and help borrowers make informed financing decisions based on their individual needs and goals.
For many mortgage transactions, Simply Approved Mortgages typically operates using a lender-paid compensation structure of approximately 1.50%. Actual compensation may vary based on lender requirements, loan program, state regulations, loan amount, and other transaction-specific factors.
We believe transparency helps consumers better understand the mortgage process and make informed decisions when comparing financing options.
Mortgage financing should be understandable, transparent, and focused on helping consumers make informed decisions.
Our goal isn't to maximize compensation per transaction. Our goal is to build lifelong client relationships through transparency, service, and competitive mortgage solutions.
Many borrowers spend significant time comparing interest rates, but may be less familiar with how mortgage companies and loan originators are compensated.
Compensation structures can vary among lenders, mortgage brokers, banks, credit unions, and other mortgage providers. Compensation is only one component of a mortgage transaction and should be evaluated alongside interest rates, APR, lender fees, discount points, closing costs, loan features, and overall loan suitability.
At Simply Approved Mortgages, we believe consumers benefit from understanding all aspects of the financing process before making a decision.
Move the slider to compare a hypothetical 1.50% Simply Approved Mortgages compensation structure with a hypothetical 2.75% used by some other lending options. For educational purposes only.
For illustration only. Figures are hypothetical and not a quote, offer, rate lock, or guarantee of savings. Lender compensation is one component of closing costs; actual loan terms, interest rates, fees, APR, and total costs vary by program, loan amount, credit qualifications, property, occupancy, state, and market conditions.
The example below compares a hypothetical 1.50% compensation structure used by Simply Approved Mortgages to a hypothetical 2.75% structure used by some other lending options, solely for educational purposes.
| Loan Amount | Simply Approved Mortgages (1.50%) | Other lending options (2.75%) | Difference |
|---|---|---|---|
| $250,000 | $3,750 | $6,875 | $3,125 |
| $350,000 | $5,250 | $9,625 | $4,375 |
| $500,000 | $7,500 | $13,750 | $6,250 |
| $750,000 | $11,250 | $20,625 | $9,375 |
| $1,000,000 | $15,000 | $27,500 | $12,500 |
These examples are illustrative only and are intended to demonstrate how different compensation percentages may produce different compensation amounts based on loan size.
These examples do not represent borrower fees, interest rates, APR, closing costs, loan terms, pricing, or savings, and should not be interpreted as a guarantee that any borrower will receive lower costs or better loan terms.
Whether you're purchasing a home, refinancing an existing mortgage, consolidating debt, or financing an investment property, our team is committed to helping you evaluate available options and make informed decisions.
The most appropriate mortgage solution depends on each borrower's individual financial circumstances, objectives, qualifications, and preferences.
Important Disclosure: Simply Approved Mortgages LLC typically utilizes a lender-paid compensation structure of approximately 1.50% on many mortgage transactions; however, compensation may vary based on lender requirements, loan program, state law, loan amount, borrower qualifications, and other transaction-specific factors. Compensation is only one component of mortgage pricing and does not, by itself, determine interest rates, APR, lender fees, closing costs, loan terms, or overall borrower costs. The information provided on this page is for general educational and informational purposes only and should not be construed as mortgage advice, a commitment to lend, an offer to extend credit, a rate quote, a loan approval, or a guarantee of savings. All mortgage loans are subject to credit approval, underwriting requirements, property approval, and program eligibility guidelines. Borrowers should carefully review all disclosures, including the Loan Estimate and Closing Disclosure, before proceeding with any mortgage transaction. Simply Approved Mortgages LLC • NMLS #2620881 • Equal Housing Opportunity.
Talk to a licensed Simply Approved Mortgages loan officer. We'll review your goals, walk through FHA, Conventional, VA, USDA, and DPA options, and give you straight answers — same day.
Simply Approved Mortgages • NMLS #2620881 • Licensed in Colorado and Florida
Share a few details and a licensed loan officer will follow up within one business day. No obligation.
Related FHA topics for this page — tap any question to jump straight to the answer.
FHA loan limits rose for 2026, with a floor of $541,287 and a ceiling of $1,249,125. Here's how to find your limit and why it matters.
The FHA's minimum is 500, but lender overlays push the real-world minimum to 580 or 620. Here's what scores actually get approved.
MIP is the FHA's mortgage insurance. There's an upfront piece and an annual piece. Here's the math on what it actually costs.
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