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Benefits of FHA Loans

FHA loans may be an excellent choice for your borrowers! 

FHA loans are insured by the Federal Housing Authority, a division of the Department of Housing and Urban Development.  This Federally insured program exists to extend more opportunities for affordable home ownership to low to moderate income families, as well as borrowers who may have “less than perfect” credit histories.


  • Debt ratio is 43% for Traditional manual underwriting. (Energy efficient homes have DTI of 45%.) Higher DTI available with a DU or LP approval.
  • Non-traditional credit is acceptable. Minimum of 3 trade lines, including Housing debt, that have been open and satisfactory for a minimum of 12 months. (Cable, Utilities, Insurance payments, etc, may be considered).
  • Minimum cash investment is 3%.
  • Gift of equity for down payment is allowed. Detailed guidelines are located in the HUD 4155.1 Handbook. Seller-funded down payment assistance programs are no longer allowed.
  • Non Occupying Co-Borrowers are allowed – maximum LTV if family member.
  • When there is a Non Occupying Co-Borrower, the Occupying Borrowers DO NOT need to have income or employment. Restrictions will apply.
  • Seller may pay HUD-allowable closing costs up to 6% of sales price.
  • Various products are available: Fixed Rate, ARMS, and Buydown; purchase and refinance; FHA High Balance; FHASecure, FHA Streamline.

Learn more about FHA loans.
Learn about becoming FHA approved.

Direct Mortgage Wholesale offers FHA loans for both purchase and refinance, fixed or ARM.

View a list of our FHA and other loan programs.


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