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fha loan minimum

what is the least amount that you can borrow with an FHA loan? by WTArch_915_284 from Indianapolis, Indiana. Aug 8th 2012 Reply


Larry Lechel (Larry@GenevaFi.com)
#15 ranked lender in Indiana - 38 contributions

Your best source of information on this topic could likely be found at HUD official website www.hud.gov or www.fha.gov. Even if fha will insure a low loan amount doesn't mean that a bank or mortgage company will do the same as low loan amounts are very costly to a lender.

Aug 8th 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Probably 30k

Aug 8th 2012
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

FHA does not have a minimum, however lenders do.. Because of the current laws, a lender can only charge you up to 5% of the loan amount in total origination fees.. so on a $30K loan, the most they can make is $1500, and that doesn't even cover most underwriting and processing fees.. so most lenders have a minimum loan amount of $50K.. Banks on the other hand are not bound by this law.. so they can charge you whatever they need to make the deal profitable.. (Probably one more reason to stay away from the "Big Banks").. 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. 480-287-5714 WilliamAcres.com

Aug 8th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

The answer depends on your area. Most Mortgage Bankers or Mortgage Brokers will not do a loan for less than $50k. If you are looking for a real small loan, I'd refer you to a local Community Bank or Credit Union since they re governed by different rules and can do smaller loan. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Aug 8th 2012
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Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

There is no min. it really depends on the lender. Most won't go below $30k. If you need to go lower than that try your local credit union.

Aug 8th 2012
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Sean McCracken (smccracken)
#28 ranked lender in Indiana - 3 contributions

30 - 40KCall for more details Sean McCrackenWinterwood Mortgage Group317--885-4560 -ext 132smccracken@winterwood.net

Aug 8th 2012
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Derick Condron (rightstartoregon)
#30 ranked lender in Oregon - 598 contributions

This will vary depending on the lender you use. We currently only lend down to 40k. I do know that some of the larger institutions have a lower limit

Aug 8th 2012
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

Unlike many lenders, we have no minimum. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

Apr 1st 2014
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Stacey Nielsen (Unitywestlending)
#909 ranked lender in California - 123 contributions

"Your best source of information on this topic could likely be found at HUD official website www.hud.gov or www.fha.gov. Even if fha will insure a low loan amount doesn't mean that a bank or mortgage company will do the same as low loan amounts are very costly to a lender."CA-DBO: License/Registration #: 603L028 | CA-BRE: License #: 01886366 | NMLS ID #: 349874Larry - What about a Direct Lender?

Apr 4th 2014
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Nikitas Kouimanis (MrMortgage)
#7 ranked lender in New York - 118 contributions

Local savings banks will probably do 30,000 while most private mortgage bankers will do more like 50,000.

Jun 7th 2015
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Jesse Stroup (jessestroup)
#4 ranked lender in Idaho - 593 contributions

That will depend on the lender.

Feb 26th 2016
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Michael Diaz (sincityloandr)
#60 ranked lender in Nevada - 66 contributions

We will go down to 30k on specific programs.

Oct 2nd 2018
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