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  • FHA home loans

    What is an FHA loan?

    FHA home loans are some of the most popular home loans in the market. FHA was created as part of the National Housing Act of 1934.  Your parents, and even your grandparents probably bought their first home with an FHA loan. By obtaining an FHA loan, Minnesota residents can obtain a very low down payment government insured home loan, that also allows you to roll your closing costs into the loan.

    Learn about FHA loans, 203k rehab loans, FHA guidelines, FHA interest rates, FHA credit requirements, FHA vs conventional loan,, and basic FHA loan requirements

  • FHA Loan Limits

    The FHA Loan program does have maximum loan limits.  The limits are based on the county in which the property is located. The good news is, the loan limits are very liberal, and most middle income families should be able to find a home they love that meets loan limit guidelines Never assume your family doesn't qualify for an FHA loan. 

    As the limit is always changing, it is best to contact us directly for the current limits where we lend, Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota.

    Call our MN FHA experts at (651) 552-3681 to discuss location eligibility questions, or you can also check FHA Mortgage Loan Limits online.

  • FHA Program Program Highlights

    • Small down payment - as little as 3.50%
    • Seller paid closing costs - up to 6% of the purchase price
    • Lender credits allowed to reduce your out-of-pocket closing costs
    • Shortest waiting period after serious credit issues, like a bankruptcy, foreclosure, or short sale
    • Can be combined with down payment assistance programs.
    • Weaker credit allowed - as low as a 500 score with 10% down payment. As little as 3.50% down payment with a 580 or higher credit score. BUT, understand while scores this low are technically possible, getting a loan approval with score below 600 becomes very difficult.

  • FHA, VA, and USDA requires those who offer their mortgage loans go through a stringent approval process. We are an approved FHA, VA, and USDA mortgage lender. We are not acting on behalf of, or under the direction of the VA or the Federal Government. HUD / FHA and the VA do not lend directly to the public, only through approved lending institutions like Cambria Mortgage. 

  • Type of Home the Qualifies for an FHA Loan

    We offer FHA loans for single family homes, town homes, and condos. You can also buy a duplex, triplex, or even a 4-unit property, as long as you live in one of the units.

    • Modular homes OK
    • Mobile homes OK if a double-wide, on private property (not a park). Note many FHA lenders do not offer mobile home financing.

  • Fixer-Uppers / 203k Rehab loan

    FHA is generally a bit picky about the condition of a home, including peeling paint on homes older than 1978, and a roof near the end of it's life.

    But properties in need of repair are allowable under the FHA 203k rehab program, you can both buy the home, AND get the money to fix it all in one simple loan.

    We offer both the full FHA 203k loan, and the very popular FHA 203k Streamline Rehab loan. 

    Visit our special 203k Rehab loan page for more information

    Unique properties, large acreage properties, and hobby farms are also possible, but might be an issue with FHA Loans.  Call our FHA Loan Experts at (651) 552-3681 to discuss any questionable properties BEFORE signing a purchase agreement.

  • Paying FHA Loan Closing Costs

    All mortgage loans have closing costs. Lender fees, appraisal, credit report, title company, state taxes, origination fees, and more.  These need to be paid for by you the home buyer. The best way is always for the buyer to pay cash.  But as most first time home buyers have limited funds, you are also allowed with an FHA loan to roll the closing costs into the loan with "seller paid closing costs."


    You can also pay them by taking a slightly higher interest rate. Under these two options, you are still paying for the closing costs, but you are essentially paying over time versus cash out of pocket today. How cool is that? Most homebuyers using an FHA Loan program in MN buy their homes needing just their down payment money out of pocket.

  • Unacceptable Credit Items for an FHA Loan

    If you have any of the following items, you will not qualify for our FHA loan in MN, WI, or SD.

    You may qualify for other loans, so be sure to contact us for more information on other loan options:

    • Bad Credit - middle credit score BELOW 620 gets harder and harder to approve
    • Below 580 score is possible with at least 10% down
    • Below 500 score automatically denied
    • More than 2 late mortgage or rent payments in the past 12 months
    • Foreclosure less than 3-years old
    • Bankruptcy Chapter 7 less than 2-years old
    • Bankruptcy Chapter 13 less than 1-year old
    • Non-medical collections over $2,000 in total cause trouble
    • Any credit account turned into a collection account in the past 12 months
    • Unpaid Tax Liens (must be paid off to buy)
    • Large amount of unpaid judgments (need to be paid to buy)

  • FHA Home Loan Application

    Ready? 

    We can take your loan application by calling our FHA Loan Experts at (651) 552-3681, you can fill out the FHA Loan Online Application, or you can visit us in our FHA Loan Office in St Paul, MN.

    We offer FHA Loans in Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota.

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  • equal housing lender Minnesota, wisconsin, iowa, north dakota, south dakota

    Cambria Licensed Mortgage Loan Officer serving home owners, home buyers and residential real estate investors. Equal Housing Lender, Cambria Mortgage NMLS #322798. I am a licensed mortgage originator, NMLS #274132, and am licensed to originate mortgage loans in: MN, FL, WI, IA, ND, and SD. Lending services may be provided in certain states by Cambria Mortgage NMLS #322798. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. The information here may not be up-to-date and may no longer be accurate. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. © 2023 Joe Metzler