FHA Loans

Looking for the Best FHA Lender? Let's Talk!

Get a Quote! We Lend Nationwide

By clicking the Submit button you agree that you are providing an electronic signature expressly authorizing NASB to contact you by telephone at any of the telephone number(s) provided above using an automatic telephone dialing system or an artificial or prerecorded voice or via text/SMS message, even if the telephone number is assigned to a cellular telephone service or other service for which the called party is charged. NASB may also contact you via email using any email address you provided. This authorization overrides any previous registration on a federal, state or corporate Do Not Call Registry or any internal NASB privacy or solicitation preference you have previously expressed. You are not required to provide this authorization as a condition of purchasing any property, goods or services from NASB. As an alternative, you may call us directly at (866) 627-7119 and we will process your request over the phone.

Since 1927, NASB has served as a leader in responsible lending practices. We are proud to offer our consumers the option of applying for FHA home mortgages in addition to our traditional home loan options. As an FHA approved lender, you can rest assured that our loans meet all FHA guidelines. We aim to provide our customers the best financial tools to ensure that our mortgage rates are among the lowest cost FHA loans you will find anywhere. You can see our reviews here to learn more about our commitment to customer satisfaction.


Flexible FHA Benefits for First-Time Buyers

FHA mortgages provide an array of benefits to help you finance your new home. Because these loans are federally insured, our FHA lending program has the ability to be flexible in our loan qualifying requirements for income and credit. You may find that you can be approved for an FHA loan despite financial problems you had in the past, like bankruptcy and recent late payments. FHA home loan guidelines make it easier for you to own your dream home by requiring a significantly smaller down payment than a traditional home loan.

Continued Benefits for Those Looking to Refinance

Along with the security and peace of mind that an FHA mortgage brings, refinancing your loan may lower your monthly payments and save you hundreds of dollars a year. With interest rates continuing to fall, now is the time to consider refinancing your loan before interest rates start to go back up. As a top FHA lender, NASB is able to provide our customers with competitively priced FHA home mortgages with low closing costs.

What is a FHA Loan?

FHA loans are loans that are secured by the Federal House Administration (FHA). These loans also meet the FHA’s lending guidelines and requirements for borrowers using their loan program. North American Savings Bank is FHA approved for potential home buyers.

We are an FHA Approved Lender

Earning the privilege to lend FHA loans is a responsibility we take seriously. That's why as an FHA approved bank, we adhere to a high level of lending standards. The Federal Housing Administration is an agency of the United States government. They insure loans made by banks and other private lenders for a variety of potential home buyers. There are varying forms of eligibility required to receive an FHA loan. The Federal Housing Administration (FHA) was created to help lower income borrowers obtain a mortgage. These government-backed mortgages protect lenders against defaults and allow homeowners with lower credit scores and less down payment amounts to buy a home.

Bad Credit? We May have a Solution for You!

FHA loans offer lower credit score requirements, plus a low 3.5% down payment option. Those with bad credit, a prior bankruptcy or a former foreclosed home can still qualify for an FHA loan, as long as they meet the minimum credit score and seasoning timeline. Closing costs are allowed to be paid by the seller and lender if you choose to structure your loan in that manner.

FHA loans typically have a little more risk involved for the lender. To insure their investment, there are two types of mortgage insurance premiums required on all FHA loans: Upfront mortgage insurance premium (MIP) and Annual MIP.

FHA Loans


  • Must have a valid Social Security number and be a legal resident of the United States.

  • Have a steady employment history.

  • A down payment of at least 3.5% is required for a credit score of 580 or higher. However the money can be gifted from a family member.

  • They are only available for a primary residence.

  • The property must be appraised by a FHA-approved appraiser and needs to meet certain standards.

  • The front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, home insurance) will need to be less than 31% of your gross monthly income.

  • Monthly debts (credit card payments, car payment, student loans, etc.) need to be less than 43% of gross monthly income.

  • Prior bankruptcy or foreclosures need to be season over 36 months and you need to have re-established good credit.

Loan Limits

The maximum mortgage limits vary by state and county. To find out the mortgage limits in your area click here.

How much can I borrow?

The FHA has county loan limits that determine the maximum amount of money that can be loaned in a particular area. However, your personal loan amount and what you can qualify for will be determined after evaluating a multitude of qualifying factors including income, credit score, and liabilities.

Let's Talk!

To begin the loan process, contact one of our loan consultants today. You can email, phone or apply online. Interested in refinancing? Be sure to ask about our FHA Streamline Refinance product to see if it's a good fit for you!