Skip to main content
Simply Approved Mortgages logo
PublishedJune 26, 2026UpdatedAugust 22, 2026ReviewedAugust 23, 2026Where our FHA figures come from
Writer's desk with a laptop and printed housing articles overlooking a suburban street
FHA Knowledge Hub

FHA loan articles, written by people who close them.

Every number sourced from HUD, FHA Mortgagee Letters, and HUD Handbook 4000.1. Updated for 2026.

Start My ApprovalSee Today's Rates
3.5%
Min. down payment
580
Min. FICO score
$1,249,125
2026 high-cost ceiling
Quick answer

Where can you get straight answers about FHA loans?

This blog explains FHA rules in plain language: what an FHA loan is, how it compares to conventional financing, the credit score and mortgage insurance math, the 2026 loan limits, and how renovation financing works. Each article cites the HUD publication the rule comes from.

What this means for your mortgage

Start with the article closest to your question; each one gives the rule, the source, and the number you actually need.

Reviewed by the licensed mortgage team at Simply Approved Mortgages · Last verified August 23, 2026 against HUD Handbook 4000.1

Start My Approval
TL;DR

FHA blog: key takeaways

  • Every article opens with a direct answer you can read in ten seconds
  • Program rules are cited to HUD Handbook 4000.1 or the governing Mortgagee Letter
  • Consumer-side explanations link to neutral CFPB guidance
  • Figures reflect the 2026 FHA program year
  • Articles are reviewed on a monthly cycle and dated honestly
  • Nothing here is a rate quote, offer, or commitment to lend

Latest FHA articles

Costs & Fees5 min read · 2026-10-29

FHA Closing Costs and Seller Credits: Who Can Pay What

Discover how FHA closing costs are calculated, how seller concessions up to 6% offset fees under HUD guidelines, and how to structure purchase offers.

Eligibility & Qualification5 min read · 2026-10-28

FHA Debt-to-Income Limits and What Counts as Income

Learn how HUD evaluates debt-to-income ratios and which sources of stable income qualify for an FHA purchase loan in Florida or Colorado.

Costs & Fees5 min read · 2026-10-27

FHA Mortgage Insurance Explained: Upfront and Annual MIP

Explore how FHA mortgage insurance premiums are calculated under HUD rules, how upfront and annual MIP operate, and how to evaluate overall borrowing costs.

Credit & Qualifying4 min read · 2026-10-26

FHA Down Payment at 580 vs 500 Credit Scores

Learn how credit scores of 580 and 500 determine whether you need 3.5% or 10% down on an FHA loan under HUD rules in Florida and Colorado.

FHA Basics6 min read · 2026-10-25

What an FHA Loan Actually Costs in Florida and Colorado

Review complete FHA loan costs in Florida and Colorado, from the 3.5% down payment and MIP to title fees, state taxes, and monthly escrow requirements.

Costs & Fees5 min read · 2026-10-25

FHA Loan Limits and Mortgage Insurance Costs

Understand how FHA loan limits and mortgage insurance premiums (UFMIP and annual MIP) interact to define your total FHA loan costs, helping you budget for your home purchase. Get started.

Rates & Limits4 min read · 2026-10-25

How Florida County FHA Loan Limits Are Set

Discover how Florida FHA loan limits are set for each county and where to reliably find the specific limits for your area to plan your home purchase or refinance. Understand the impact on your eligibility.

FHA Loan Limits and How They Work5 min read · 2026-10-25

Buying a Home Above FHA Loan Limits: Your 2026 Options

FHA limits cap the loan amount, not the home's price. Here's how the cash gap works when a home is priced above your county's FHA limit, and when conventional may cost less.

Rates & Limits4 min read · 2026-10-21

How FHA Loan Limits Are Set: Full Breakdown

Curious how FHA loan limits are determined each year? We explain the calculations and factors HUD uses, ensuring you understand the maximum FHA loan amount for your area.

Rates & Limits4 min read · 2026-10-21

FHA Loan Limits For Multi-Unit Properties: Unit Homes 2026

Discover how FHA loan limits apply to multi-unit properties, from duplexes to four-plexes. We'll help you understand the maximum loan amounts available for these homes in 2026.

Rates & Limits4 min read · 2026-10-21

Essential Guide: Florida FHA Loan Limits

Discover the 2026 FHA loan limits for Florida counties, and understand how these maximums impact your FHA-insured mortgage. Learn about property types and eligibility requirements.

Rates & Limits6 min read · 2026-10-21

Smart FHA Loan Limits: Understanding Your Maximum Mortgage

FHA loan limits define the maximum mortgage amount the FHA will insure for properties in a specific county. These limits are updated annually, vary by property type, and are essential for planning your home purchase effectively. Understanding these can help you strategize your homebuying process.

FHA Down Payment Assistance Programs4 min read · 2026-10-17

Mortgage Insurance FHA Dpa Programs: How Works

Using FHA loans with down payment assistance (DPA) still requires FHA mortgage insurance. This guide explains how UFMIP and annual MIP work, and their impact.

Down Payment Assistance4 min read · 2026-10-16

FHA Loans: Minimum Down Payment Vs Zero Assistance

Explore your FHA down payment options for 2026: understand the 3.5% minimum requirement versus using down payment assistance programs, potentially reducing your out-of-pocket costs. Compare paths for your FHA loan.

Down Payment Assistance4 min read · 2026-10-15

Smart FHA Down Payment Assistance for First-Time

For first-time homebuyers, FHA down payment assistance programs can significantly reduce upfront costs. Learn how these programs work with FHA loans to make homeownership more accessible.

Down Payment Assistance6 min read · 2026-10-14

Closing Costs And FHA Down What Homeowners Should Know

Navigating FHA closing costs with down payment assistance (DPA) can be complex. Learn what fees to expect, how DPA can help reduce out-of-pocket expenses, and explore other strategies for covering these essential costs. Make informed decisions for your FHA loan.

Down Payment Assistance6 min read · 2026-10-13

FHA Down Payment Assistance Options for Colorado Hom

Discover proven FHA DPA options in Colorado for 2026, helping homebuyers cover their minimum FHA down payment and closing costs. Unlock homeownership with assistance programs.

Down Payment Assistance6 min read · 2026-10-12

How FHA Loans Work With Down: Proven Payment Guide

Explore how FHA loans integrate with Florida's robust down payment assistance programs. Understand eligibility, common options, and how to combine them for homeownership.

Down Payment Assistance8 min read · 2026-10-11

Smart FHA Down Payment Assistance Programs: Full Breakdown

Exploring options to make FHA homeownership more accessible? Learn how various down payment assistance (DPA) programs can help cover your upfront costs.

Credit & Qualifying5 min read · 2026-10-10

Proven FHA Refinance Credit Score Requirements Guide

Curious about credit score minimums for an FHA refinance? Learn what mortgage brokers consider for FHA Streamline and Cash-Out options and how lender rules can differ from HUD guidelines.

Costs & Fees4 min read · 2026-10-09

FHA Refinance Mortgage Insurance: UFMIP and Annual MIP Costs

Considering an FHA refinance? Understand the required mortgage insurance premiums (MIP), including Upfront Mortgage Insurance Premium (UFMIP) and annual MIP. Learn how these costs impact your loan and monthly payments for both Streamline and Cash-Out FHA refinances. This guide provides clarity on FHA refinance mortgage insurance for 2026.

Refinance4 min read · 2026-10-08

FHA Cash-Out Refinance LTV Rules: The 80% Maximum Explained

Access your home equity with an FHA cash-out refinance. Learn about the maximum loan-to-value (LTV) limits and how they impact your eligibility and loan amount. Simply Approved Mortgages guides you through the process.

Refinance4 min read · 2026-10-07

FHA Streamline Net Tangible Benefit Test: What It Means For You

Discover the FHA Streamline Net Tangible Benefit Test, a crucial requirement that ensures your refinance provides a genuine financial advantage. Learn how it works.

Refinance4 min read · 2026-10-06

FHA Cash-Out Refinance: How Borrowing Against Equity Works

Discover how an FHA cash-out refinance can help homeowners in Florida and Colorado unlock their home's equity for various financial goals. Learn about eligibility, loan limits, and how it works.

Refinance4 min read · 2026-10-05

FHA Streamline Refinance: Lower Your Payment With Less Paperwork

An FHA Streamline Refinance helps you reduce your monthly mortgage payment or interest rate with minimal documentation. Learn how this FHA-insured option works to offer a net tangible benefit to homeowners.

Refinance7 min read · 2026-10-04

FHA Refinance Options: Streamline Vs Cash Out Explained

Considering an FHA refinance? Learn the key differences between a Streamline Refinance, designed to lower your monthly payment, and a Cash-Out Refinance, which lets you access your home's equity.

Eligibility & Qualification4 min read · 2026-10-03

FHA Occupancy Requirements: Primary Residence Rules

FHA occupancy rules explained: the primary residence requirement, move-in timing, the one-year occupancy rule, and limited exceptions for a second FHA loan.

Costs & Fees4 min read · 2026-10-02

FHA Mortgage Insurance Cost: Upfront and Full Breakdown

How FHA mortgage insurance is priced: the 1.75% upfront premium, the annual MIP table by loan term, loan size and LTV, the 2023 reduction, and when MIP ends.

Rates & Limits4 min read · 2026-10-01

FHA Loan Limits Florida What Homeowners Should Know

How 2026 FHA loan limits work in Florida and Colorado: the national floor and ceiling, one- to four-unit limits, and how to look up your county's limit.

Eligibility & Qualification5 min read · 2026-09-30

Essential FHA Property Requirements 2026: What Appraisers Look

Understanding FHA property requirements is crucial for home buyers. This guide details the Minimum Property Standards (MPS) covering safety, soundness.

Eligibility & Qualification4 min read · 2026-09-29

FHA Loan Income Requirements and DTI Ratio Explained

FHA income requirements and DTI calculations depend on verified earnings, debts, and lender review. Learn what lenders assess, then check eligibility today.

Credit & Qualifying4 min read · 2026-09-28

FHA Loan Credit Score Requirements: 580 vs 500 Explained

FHA's credit score tiers, why many lenders require more than the FHA minimum, how nontraditional credit is reviewed, and ways to strengthen your score.

Eligibility & Qualification7 min read · 2026-09-28

FHA Loan Eligibility Requirements: What Lenders Check

Learn FHA loan eligibility requirements for credit, income, debt, down payment, property standards, and occupancy. Check eligibility with a licensed expert.

FHA Basics9 min read · March 18, 2026

What Is an FHA Loan? A Complete 2026 Guide

FHA loans are government-insured mortgages with 3.5% down and credit scores as low as 580. Here's how they work, who qualifies, and what they actually cost.

Compare Loans11 min read · March 04, 2026

FHA vs Conventional Loans: Which One Saves You More in 2026?

The right answer depends on your credit score, down payment, and how long you'll keep the loan. We break the math down line by line.

Requirements7 min read · February 19, 2026

FHA Credit Score Requirements in 2026 (And How to Boost Yours)

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.

Limits & Costs6 min read · December 12, 2025

2026 FHA Loan Limits: How High Can You Go in Your County?

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.

Limits & Costs8 min read · November 28, 2025

FHA Mortgage Insurance Premium (MIP), Explained Like You're Buying Today

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.

Loan Types10 min read · October 14, 2025

The FHA 203(k) Renovation Loan: Buy and Fix in One Mortgage

The 203(k) lets you finance the purchase and the repairs in a single FHA loan. Here's how the Limited and Standard versions actually work.

Ready to see what you qualify for?

Talk with a licensed FHA broker about your scenario. Licensed in Florida and Colorado.

Start My ApprovalCall 877-813-7219

Quick answers

Where should I start if I know nothing about FHA?
Read 'What Is an FHA Loan?' first — it covers eligibility, cost, and the 2026 numbers in one pass.
Are the numbers in older posts still current?
Posts carry a visible date and are reviewed monthly; 2026 program figures are updated from the central data registry.
Do you cover down payment assistance?
Yes — the FHA DPA second lien is explained on the DPA page and referenced throughout the blog.
What does this blog cover?
FHA rule changes, HUD Mortgagee Letters, county limit updates, and practical guidance for Florida and Colorado borrowers.
How often is it updated?
New posts follow HUD publications and material program changes rather than a fixed publishing quota.
Are blog posts a substitute for the guides?
No. Guides are maintained reference content; posts are time-stamped commentary on developments.
Do posts carry rate offers?
No. We do not advertise rates or terms; posts are educational.
How do I know a post is still accurate?
Each post shows its publication and review dates, and superseded HUD guidance is noted when it changes.
Can I subscribe to updates?
Yes, through the newsletter signup, which is a separate consent from any loan inquiry.
Who writes the posts?
Simply Approved Mortgages editorial staff, working from primary HUD sources per the editorial policy.
Do posts apply outside Florida and Colorado?
FHA policy content applies nationwide; anything about our services is limited to our licensed states.

Sources for this page

Program rules and figures on this page are taken from the primary government sources below, not from third-party summaries.

Simply Approved Mortgages is not affiliated with or endorsed by HUD, FHA, or any government agency.

Included with your FHA estimate

Get your FHA Pre-Approval Summary.

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.

  • Maximum FHA loan amount for your county
  • Minimum FHA down payment and cash-to-close estimate
  • Upfront and annual MIP included
  • Estimated monthly payment with taxes and insurance
Get my FHA estimate

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.

FHA Estimate Summary
Purchase price
$385,000
Down payment (3.5%)
$13,475
Base loan amount
$371,525
Financed UFMIP (1.75%)
$6,502
Est. monthly payment
Shown in your summary

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

Weighing it up

Pros and cons of FHA financing

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.

What works in your favor

  • 3.5% down from a 580 FICO, with 100% of the down payment giftable.
  • Seller contributions of up to 6% of the sale price toward closing costs.
  • No income caps, and higher DTI is possible with documented compensating factors.

What to plan around

  • Annual mortgage insurance for the life of the loan at 3.5% down.
  • County loan limits cap the financed amount, not the purchase price.
  • HUD minimum property standards apply at appraisal.
Worked example

The FHA numbers behind this page

A $425,000 example shows the cash and loan structure FHA produces before pricing is added.

The FHA numbers behind this page
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.

Document checklist

What documents you need for FHA financing

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.

Identity and residency

  • Government-issued photo ID and Social Security number
  • Two-year residence history with landlord contact where you rented

Assets

  • Two months of statements for every account used for down payment or reserves
  • A signed gift letter plus the donor's source of funds for any gifted money
  • Retirement statements when reserves are drawn from those accounts

Property and credit

  • Fully executed purchase contract with all addenda
  • Homeowners insurance quote, plus flood coverage where required
  • Written explanation for credit events, plus bankruptcy or foreclosure paperwork if applicable
Income documentation

Self-employed vs. W-2 employed: what it means for your FHA loan

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.

FHA documentation differences between W-2 employed and self-employed borrowers
ItemW-2 employedSelf-employed
History requiredTwo-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 calculatedBase 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 file30 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 closingThe 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 delayUnexplained 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 suggestGet 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.

If you are W-2 employed

  • Pay stubs covering the most recent 30 days
  • W-2 forms for the last two years
  • A verification of employment; HUD Handbook 4000.1 Update 18 tightened the written and electronic VOE rules, so expect the employer record to be verified directly
  • Documentation of bonus, overtime or commission income if you want it counted

If you are self-employed

  • Two years of personal federal tax returns, all schedules
  • Two years of business returns for a partnership, S-corp or C-corp, plus K-1s
  • A year-to-date profit and loss statement and balance sheet
  • Business license, CPA letter or equivalent evidence the business is active

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

Run the numbers for your county

FHA payment, affordability, closing cost and refinance calculators for the United States

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.

yrs
%
$
Estimated total monthly payment
$3,262
Principal & interest
$2,576
FHA annual MIP
$184
Property tax
$311
Homeowners insurance
$192
Down payment
$14,525
Loan amount incl. financed UFMIP
$407,483
See Today's Rates

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

Taxes, insurance and local expenses

What owning actually costs in the United States

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.

Estimated ownership costs in the United States on a $415,000 home
CostEstimateHow it works here
Property tax$311 / moAbout 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 / moDirectional $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 / mo0.55% of the $400,475 base loan at 3.5% down, 30-year term, per HUD Mortgagee Letter 2023-05.
FHA upfront MIP$7,0081.75% of the base loan, normally financed into the $407,483 total loan amount rather than paid in cash.
State transfer / documentary taxVariesTransfer, deed, recordation and mortgage taxes are set state by state — several states charge none at all.
Settlement conventionTitle/escrow stateA title or escrow company customarily conducts the closing and issues the policy.

The expense buyers here miss most

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.

How this affects the FHA file

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 Expert Insight
Editorial standard · Last reviewed August 23, 2026

Every figure here traces back to HUD

Our articles cite HUD Handbook 4000.1 and the current Mortgagee Letters rather than repeating industry rules of thumb. When FHA changes a limit or a mortgage-insurance schedule, we update the article and the calculators that depend on it in the same pass.

Our recommendation

Check the effective year on any FHA figure you read anywhere online.

Simply Approved Mortgages · licensed mortgage broker · NMLS #2620881 · Equal Housing Opportunity
Ask Simply AI

Ask SAM anything about FHA loans in the United States

SAM is the Simply Approved Mortgages AI assistant, grounded in HUD Handbook 4000.1 and the 2026 HUD county limit file. It answers general FHA questions instantly. A licensed loan officer reviews every scenario before any terms are confirmed.

Hi — I'm SAM. Ask me about FHA loan limits, credit, mortgage insurance, down payment assistance or what an underwriter will need from you. General education only: I don't quote rates, and nothing I say is an offer or commitment to lend.

General information only — not advice, a quote, or an offer of credit.

Popular on this page

Talk to a licensed loan officer 877-813-7219

Ask Simply AI provides general educational information about FHA loan programs. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.

Where to go next

Continue with the FHA topic that matches where you are, or talk to a licensed loan officer about your own numbers.

How FHA loans work

What FHA insurance is and who it fits.

FHA requirements

Credit, income, DTI and property rules.

FHA credit score rules

580 vs 500–579 and what they change.

Down payment & assistance

3.5% minimum, gift funds and DPA options.

Mortgage insurance (MIP)

Upfront and annual MIP, and how long it lasts.

FHA loan limits

County-by-county HUD maximums.

FHA closing costs

What you pay and what a seller can cover.

FHA loan programs

203(b), 203(k), streamline, cash-out and more.

FHA calculators

Payment, affordability, MIP and break-even tools.

First-time buyer guide

Step-by-step from budget to closing.

Start My Approval Contact a licensed loan officer Submitting a request is not an application, approval or commitment to lend.
Down Payment Assistance

The FHA DPA Program

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.

How it works

Three tiers. Real money toward your home.

  • 2.5% / 3.5% / 5% of the lesser of purchase price or appraised value
  • Pairs with FHA, Conventional, VA, and USDA first mortgages
  • 10-year repayable second lien — no silent forgivable strings
  • Available to FICO 580+ primary-residence buyers
Full DPA program details
Not available in: New York, Washington, U.S. Virgin Islands, Guam, Northern Mariana Islands, and American Samoa. All loans subject to underwriting approval and program guidelines.
Amount calculator & eligibility checker

See how much assistance you may qualify for

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

DPA amount calculator & eligibility checker

Estimate 3.5% assistance on the lesser of price or appraisal, layered over a 30-year fixed FHA first mortgage.

Estimated DPA
$14,000
3.5% of $400,000
2nd-lien P&I
$174
10-yr · 8.500%

Amount calculator

Assistance tier
Lesser of price or appraisal
$400,000
DPA at 3.5%
$14,000
2nd-lien term
10-year fixed, repayable
2nd-lien rate
8.500%
Monthly P&I
$174/mo

Illustrative only — not a quote, lock, offer, or commitment to lend. Binding figures appear only on your Loan Estimate and Closing Disclosure.

Eligibility checker

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.

See Today's Rates

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.

Our pricing philosophy

Transparency. Simplicity. Consumer Choice.

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.

Our promise

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.

Why compensation transparency matters

Understanding all aspects of the financing process

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.

Interactive illustration

See how compensation scales by loan amount

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.

$400,000
$50,000$2,000,000
Typical market comp at 2.75%$11,000
Simply Approved Mortgages at 1.50%$6,000
Potential closing cost difference
Hypothetical impact on lender compensation only
~$5,000

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.

Illustrative compensation comparison

Comparing a hypothetical 1.50% to a hypothetical 2.75%

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 AmountSimply 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.

Our commitment to borrowers

Our goal is to provide

  • Professional mortgage guidance
  • Transparent communication throughout the loan process
  • Access to a broad range of mortgage programs
  • Competitive financing options based on borrower qualifications
  • A streamlined application and approval experience
  • Support for homebuyers, homeowners, and real estate investors
A team-focused approach

Support for every type of borrower

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.

Compare more than just the interest rate

When evaluating mortgage options, borrowers should consider the complete financing package

  • •Interest Rate
  • •Annual Percentage Rate (APR)
  • •Lender Fees
  • •Discount Points
  • •Closing Costs
  • •Loan Features and Flexibility
  • •Prepayment Terms
  • •Product Eligibility Requirements
  • •Customer Service and Support

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.

Ready when you are

Get pre-qualified in minutes — no obligation.

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.

Start My ApprovalSee Today's Rates

Simply Approved Mortgages • NMLS #2620881 • Licensed in Colorado and Florida

Quick pre-qualification

Share a few details and a licensed loan officer will follow up within one business day. No obligation.

1
2

Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

Step 1 of 2 — your info is saved when you continue. Step 2 takes about 60 seconds and sharpens your loan officer's review.

Simply Approved Mortgages LLC | NMLS #2620881 — a mortgage broker, not a direct lender. Submitting this form is an inquiry only; it is not an application, quote, pre-approval, approval or commitment to lend. All loans are subject to lender underwriting and approval. Equal Housing Opportunity. See our Privacy Notice.

People also search for

Related FHA topics for this page — tap any question to jump straight to the answer.

FHA Homebuyer Newsletter

FHA rate moves, county loan limits, and guideline changes — in your inbox.

Weekly updates for buyers and homeowners: rate movement, FHA guideline changes and new down payment assistance programs. No spam, unsubscribe anytime.

  • Weekly FHA rate snapshot
  • County loan limit updates
  • First-time buyer playbooks
  • DPA & program change alerts
FHA Newsletter

FHA rate updates, market trends, and program changes. No spam.

Optional: choose what you want to read

By subscribing, you consent to receive weekly FHA educational and program update emails from Simply Approved Mortgages LLC. This is not an application for credit and not an offer or commitment to lend. Unsubscribe any time. Read our Privacy Notice.