Meet our FHA loan products
For your borrowers in need of flexible credit and down payment requirements, FHA loans could be a great fit. In addition to purchase and refinance products, we also offer specialized FHA programs for renovation, disaster relief, and more. Plus, we can issue single-unit approvals, even in non-FHA-approved developments.
FHA Credit Requirements
We accept credit scores as low as 550 for FHA purchase and refinance. We also accept borrowers with no credit score (restrictions apply).
FHA Down Payment Requirements
Your FHA borrowers could put down as little as 3.5% when they finance with Cardinal Financial Wholesale.
FHA 203(k): For major and minor home renovations.
From complete structural changes to minor home renovations, FHA 203(k) programs allow your borrowers to finance home rehab costs and their mortgage in one convenient loan. With two flexible options to choose from, it’s easier than ever to make home happen.
FHA 203(k) Standard
Our Standard program allows structural changes, landscaping, and hardscaping. It offers a $5k minimum renovation amount with no maximum, and projects must be completed within 180 days. Manufactured homes are allowed. A HUD consultant is required.
FHA 203(k) Limited
Our Limited program is perfect for your borrowers’ more minor remodeling and renovation projects. It offers a $35k maximum renovation amount with no minimum, and projects must be completed within 180 days. Manufactured homes are allowed. Landscaping and hardscaping are not allowed. A HUD consultant is not required.
FHA 203(h): For borrowers in disaster areas.
If your borrower’s primary residence has been destroyed in a presidentially declared disaster area, they are eligible to apply for the FHA 203(h) program. This program helps victims of major disasters recover by making it easier to finance a new build home. Renters in the disaster area whose residence was rendered uninhabitable are also eligible for this program.
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Information is intended for the use of mortgage professionals only and not intended for public use or distribution. This is not an advertisement pursuant to 12 C.F.R. 1026.2(a)(2).