FHA Loans

An FHA loan is partially insured by the Federal Housing Administration (FHA), an agency created in 1934 to help borrowers and businesses recover from the Great Depression. The FHA’s insurance lessens a lender’s risk when offering loans to buyers with limited funds for a down payment and/or for imperfect credit.

  • You may qualify to buy with a low, 3.5% down payment.
  • Credit scores from 580 are allowed for fixed-rate loans.
  • You may finance a single-family home, 2-4 unit property, modular home, condominium or a Planned Unit Development (PUD) property.
  • Temporary buydowns may reduce your initial interest rate for 1-2 years.


An FHA 203(k) Rehab loan enables you to buy a home that’s in need of repairs or renovations by providing additional funding before move-in. Caliber offers two Rehab loan products: Standard for remodeling and repairs, and Limited for minor remodeling and non-structural repairs.

  • Credit scores from 620 are allowed.
  • You are required to finance at least $5,000 of renovation / repair work.
  • An FHA Rehab’s total loan amount depends on several factors, including your home’s “as completed” appraised value after renovations.
  • Eligible properties include single-family homes, 2-4 unit properties, modular homes and Planned Unit Development (PUD) properties.
  • Fixed-rate, 30 year loans keep your monthly budgeting simple.


If you currently have an FHA mortgage, an FHA Streamline Refinance offers several options. If interest rates have fallen, you may refinance to the lower rate and enjoy lower monthly payments. You may also qualify to convert your Adjustable Rate Mortgage (ARM) to a fixed-rate loan and “lock in” an affordable interest rate, or shorten your loan’s term to reduce the amount of interest you pay over the life of the loan.