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Attention homebuyers, veterans, and active duty military, our dedicated team is here to support you every step of the way. We offer a simple yet effective process to provide current market rates, to help get you going on your mortgage journey.

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Rate Simple, Inc. | NMLS ID# 2232647 | NMLS Consumer Access Link

8383 Wilshire Boulevard, Suite 540/B, Beverly Hills CA 90211

If you have any questions, comments, or concerns, please email us at management@ratesimple.com By submitting this form, I agree that Rate Simple may contact me at the phone number provided.via automated technology, including autodialing, prerecorded message, artificial voice, and/or text message. I understand that I do not have to consent to receive such calls or text messages to purchase goods or services from Rate Simple

This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in the State of New York will be accepted through this site.

  1. A Rate Simple HELOC is secured with your home as collateral, whereas personal loans and credit cards are not.
  2. To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
  3. Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing, or that require a waiting period prior to closing.
  4. The Rate Simple Home Equity Line of Credit is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.
Further Learning
Fixed Rate MortgageFHA Home LoanConventional LoanVA Home LoansJumbo Home LoansFirst-Time Home BuyersMortgage Down Payment AssistanceMortgage RefinanceCash Out RefinanceVA Loan RefinanceHELOC

Embark on your journey toward mortgage approval right here.

At Rate Simple, securing your dream home begins with the first step of the mortgage approval process. By initiating your application with us, you're taking the essential stride toward turning your homeownership aspirations into reality.

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Learning Center|FHA Home Loan

FHA Home Loan

An FHA loan offers a government-insured solution with flexible terms, making homeownership more attainable. Even seasoned homeowners often need to plan meticulously for a new home purchase, but FHA loans can assist some buyers in realizing their homeownership dreams with a reduced down payment.

What is an FHA loan?

FHA loans are mortgage options backed by the U.S. Federal Housing Administration. These loans, provided by institutions like banks and credit unions, facilitate home purchases with a lower initial down payment requirement. Buyers may move into their new home with as little as 3.5% down.

What's needed for an FHA loan?

Many of the same documentation requirements apply to FHA loans, just as any lender would expect: employment history, appraisal, and debt-to-income ratio. Additional FHA-specific conditions also apply. Buyers might need to provide a 3.5% down payment, more if their credit score falls below 580. FHA loans are exclusively for the borrower's primary residence.

Credit criteria for FHA loans may be more lenient if other factors demonstrate responsible financial management. Lenders evaluate each application individually and may request extra documentation or explanations. They often accommodate buyers with lower credit scores or shorter credit histories than other loan situations.

Get a mortgage to buy a home

Refinance My mortgage

Get cash from my home

How FHA Loans Operate

  • Purchase your home with as little as a 3.5% down payment (as opposed to the 20% usually required on most loans).
  • Fixed-rate terms of 30-, 25-, 20-, and 15 years are available.
  • A 5-year adjustable rate mortgage is an option.
  • No pre-payment penalties allow you to pay off your mortgage anytime.

Minimum FICO Score

  • 500 with debt-to-income limits
  • 580 high balance with limits

Down Payment

  • 3.5% minimum borrower
  • Down Payment Assistance Programs are available for those who qualify

Occupancy

Primary residence

Other Highlights

  • UPMIP financed
  • Monthly mortgage insurance required
  • 100% gift funds allowed
  • Up to 6% seller contribution