What Is an FHA Loan (Federal Housing Administration)

An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that if a borrower defaults on a loan, that the lender will not have to write off the loan, as the FHA will pay.

FHA loans are not for everybody. Nevertheless, they are a great help to some borrowers who simply do not qualify for conventional home loans.

FHA loans enable people to become home owners with as little as 3.5% nonpayment. Other loans might not allow such a low down payment.

Whether you’re looking to purchase a new or resale home, or looking to take advantage of historically low mortgage rates, we can help you achieve your borrowing goals with as little as 3.5% down and a loan guaranteed by the FHA

Apply for an FHA Home Loan

FHA Loan Program

The VA does not lend money or issue loans, but instead pledges to repay about 25% of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.

Key Benefits of an FHA Loan

Almost anybody can get an FHA loan. There are no income limits. However, there are limits on how much you can borrow. In general, you’re limited to median home prices in your area. To find the limits in your region, visit HUD’s Website. To qualify for an FHA loan, you’ll need to have reasonable debt to income ratios. You don’t need perfect credit but you will need to have a credit score of at least 620.

Highlights of a FHA Loan
  • 3.5% down payment required on purchase
  • Easier to use gifts for down payment and closing costs
  • No prepayment penalty
  • Financing for home improvement using FHA 203k programs

Fast, Easy and Secure Online Mortgage Application
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before rates go back up...

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Benefits of Obtaining Your FHA Loan With Calyx Mortgage

All brokers, loans and lenders are not equal, which is why it’s important to have the right brokerage team on your side.

Faster Loan Closing

Most of our loans closing within a 2 to 4 week time period provided there are no complications or delays submitting documents to us

Customer Service

Unlike the big box banks and one man broker shops, we provide highly responsive and timely customer service to address your needs.

Enjoy the Best Mortgage Rates

As a volume based brokerage, we offer some of the best mortgage rates and terms in the industry. No haggle – No Bait and Switch.

Decide your Terms

We customize each mortgage with the borrower in mind, you determine your down-payment and tenure, and we find you the best lender for your needs.

Personal Loan - Eligibility

Any qualifying veteran are eligible for a VA home loan. We also offer loan programs for Non-Veteran and retired folks.

Down Payment

Minimum of 5% down payment required on purchases

Credit Score

Minimum credit score – usually 620+


  • Post-foreclosure: can qualify after 7 years
  • Post-shortsale: Can Qualify after 2 years (LTV restrictions may apply)


Post- bankruptcy: can qualify after 4 years

Employment History

  • Last two years of W2 and Tax Returns
  • Last 4 months of pay stubs

Other Conditions

Other conditions may apply on a case-by-case basis and subject to lenders qualification criteria.