Do You Qualify For An FHA Loan?

Less Percent Down With Federal Housing Administration (FHA) Loans

FHA loans are insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay. These types of loans allow people to buy a home with as little as 3.5% down, while other loans might not allow such a low down payment.

FHA Loans

Who qualifies for an FHA Loan?

Almost anybody can get an FHA loan. There are no income limits, but there are limits on how much you can borrow. In general, you’re limited to median home prices in your area. To find the limits in your region, visit HUD’s Website. To qualify for an FHA loan, you’ll need to have reasonable debt to income ratios. You don’t need perfect credit but you will need to have a credit score of at least 620.


Customer Love

Kate Kloepfer

January 16, 2024
Peter was fantastic, he made the process super easy and helped whenever I had Austin's questions


September 20, 2023
We had the pleasure of working with Peter over the last few months while shopping for a home in Bayfield. We found Peter to be very responsive and professional. Can't recommend him enough. Thanks again Peter! Will & Karla

Hannah Trullaz

September 17, 2023
Peter was very helpful and easy to get in contact with. He helped us a ton in buying our first home!

James Lonergan

August 25, 2023
Peter was great to work with! My wife and I ended up with a great rate, and Peter was always willing to answer our questions.

Melanie Powers

August 14, 2023
Calling Peter at Animas Mountain Mortgage was one of the best decisions I made during the process of buying a home in the Durango area. Living out of state, I was a bit nervous about the process, but I was soon at ease with Peter's guidance. He walked us through the entire process, made sure we were staying on top of all the important deadlines, and was always available to answer our questions. His expert knowledge and local experience with realtors, title and insurance companies made the process a breeze; everyone I spoke to knew about Peter and the excellent service he provides at Animas Mountain Mortgage. I would absolutely work with Peter again and would recommend him to my family and friends. Thank you Peter!

Matthew French-Holt

March 30, 2023
Peter was extremely helpful and provided a lot of timely information. This wasn't our first mortgage experience yet we learned more while going through the process with Peter's guidance. We were more comfortable and confident in our decisions because of his experience and advice. Additionally, he shared tips for us to keep in mind in the future that will both make things easier and save us money.

Lynn May

March 4, 2023
Peter worked with us to get a mortgage in record time (seriously, less than two weeks) for a purchase we wanted to make that was time sensitive! It was the easiest purchasing process we've ever had with clear directions for what we needed to provide and frequent communication about how things were going. We will never use another mortgage broker.

Tori Moon

August 13, 2022
Peter was excellent to work with. As a first time home buyer, I didn't know what I was getting into, especially in this highly competitive market. He provided tons of support along the way, answered never ending questions and was incredibly patient and encouraging after many failed attempts. Couldn't have asked for a better person to rely on.

Aanchal Tiwari

August 7, 2022
I highly recommend Peter to anyone looking to get a mortgage. He was very on top of everything and quick to respond to all our questions. He provides constant updates throughout the process, which we found very helpful!

Rick Silverman

August 2, 2022
I had a great experience working with Peter and Animas Mountain Mortgage. They were very attentive and responsive to my questions and needs. They kept my thoroughly informed throughout the process and gave me great advise along the way. I would not hesitate to recommend this company to anyone seeking lending services. Thank you Animas Mountain Mortgage!

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