FHA Home Loans

FHA Home Loans

An FHA loan allows borrowers to buy a home or refinance with less strict financial requirements. If you have a lower credit score, debt, or even a past bankruptcy, you may still be able to qualify for an FHA mortgage.


FHA loans are government-backed by the Federal Housing Administration, an agency under the Department of Housing and Urban Development. FHA loans are insured by the FHA, so if the borrower defaults on the loan, the organization will protect the lender against loss.


FHA loans not only have lower credit score requirements, but they also come with low down payment options, which makes this an attractive loan option for first-time buyers. However, you don’t have to be a first-time buyer to qualify.

Why Consider an FHA Loan?

FHA loans are by far the easiest mortgages to qualify for due to the program’s flexible credit guidelines and low down payment requirements. A borrower who cannot afford a traditional down payment of 20% or has experienced a financial hardship like a short sale, foreclosure, or bankruptcy may be able to benefit the most from the FHA program.

What Are the Benefits of FHA Loans?

  • 3.5% down payment
  • Credit scores down to 580 (and even lower in some cases)
  • No prepayment penalty ever
  • An FHA loan may also be assumable
  • Up to 57% debt to income ratio, subject to change without notice
  • Allows for 6% seller paid closing costs
  • Easy to use gifts for down payment and closing costs
  • Allows for non-occupying co-borrowers to help qualify

What Are the Waiting Periods After a Hardship?

  • 3 Years from Foreclosure or Short Sale
  • 2 Years from Discharge of Chapter 7 Bankruptcy
  • 1 Year from Discharge of Chapter 13 Bankruptcy

What Are Some Popular FHA Programs?

Standard FHA Purchase
  • Most popular FHA program for home purchase
  • Fixed and ARM rates available
  • 1-4 unit properties eligible
  • 3.5% down payment
HUD REO $100 Down Program
  • Most popular HUD foreclosure program
  • No appraisal needed
  • Allows for repairs up to $5K
  • $100 down payment
FHA Streamline Refinance
  • Most popular FHA refinance program
  • No appraisal required
  • No income verification
  • Reduced documentation
FHA Cash Out Refinance
  • Debt consolidation OK
  • Cashout up to 85% LTV
  • Debt to income ratio to 50%
  • Fixed and ARM rates available

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13460 Vista Oaks Dr, Unit B

Leander, TX 78641

Waymaker Mortgage, Team Scottie, Team Natalie and The Campbell Mortgage Team are powered by Waymaker Mortgage Company LLC

NMLS # 2440476 | Principal Broker: Scottie Campbell NMLS # 1610726

Copyright 2023 @ Waymaker Mortgage Company LLC and its licensors | NMLS 2440476 | All rights reserved.

Terms, conditions, and restrictions may apply. Loan products are subject to availability and credit approval. Not a commitment to extending credit. | Mortgage Company Complaint

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BRAND AFFILIATION DISCLOSURE: "Waymaker Mortgage" has previously been a legal trade name (DBA) of Kama'aina Mortgage Group, Inc. NMLS 1276471 and Hometown Lenders, Inc. NMLS 65083.

The name "Waymaker Mortgage" is no longer associated with either of these organizations.

Waymaker Mortgage Company LLC - NMLS 2440476, is licensed under the laws of the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Banking - Division of Savings and Mortgage Lending. Texas Mortgage Banker Disclosure – Figure: 7 TAC 81.200(c) “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”

Consumer Complaint Policy 

It is the policy of our company to respond to customer complaints, disputes and issues immediately, to take each complaint seriously, to investigate each complaint however small it is – immediately and to take remedial actions swiftly. As soon as a complaint is received, it is documented and is logged into a special log. The complaint is sent directly to the Customer Complaint Officer or his/her designate, in order to take action. All complaints and records of complaints are kept in a special complaints binder along with all the Customer Complaint Officer's Quality Control Files and other written policies so employees can easily access them and use them to provide better customer service. Reports on complaints are reviewed during the Customer Complaint Officer's meetings with our Board. We are focused on providing financial products and services to all customers in compliance with all Federal and State regulatory policies including but not limited to consumer protection, fair lending and civil rights laws.

For more information, contact us at the number on the Home Page.

Privacy Act Disclosure 

Your privacy is very important to us. Accordingly, we have developed this Policy in order for you to understand how we collect, use, communicate and disclose and make use of personal information. Before or at the time of collecting personal information, we will identify the purposes for which information is being collected. We will collect and use of personal information solely with the objective of fulfilling those purposes specified by us and for other compatible purposes, unless we obtain the consent of the individual concerned or as required by law. We will only retain personal information as long as necessary for the fulfillment of those purposes. We will collect personal information by lawful and fair means and, where appropriate, with the knowledge or consent of the individual concerned. Personal data should be relevant to the purposes for which it is to be used, and, to the extent necessary for those purposes, should be accurate, complete, and up-to-date. We will protect personal information by reasonable security safeguards against loss or theft, as well as unauthorized access, disclosure, copying, use or modification. We will make readily available to customers information about our policies and practices relating to the management of personal information. We are committed to conducting our business in accordance with these principles in order to ensure that the confidentiality of personal information is protected and maintained. This short outline included important aspects of our privacy policy. To review our entire privacy policy, email us at the address on our home page.