FHA Loans

FHA Loans

Picture2 (1)FHA LOANS-

Federal Housing Administration (FHA) loans are government loans that are great in many situations to assist borrowers with qualifying for a mortgage. The Department of Housing and Urban Development (HUD) oversees and creates the guidelines for FHA loans.

FHA has loan limits set by County. Check those out here. https://entp.hud.gov/idapp/html/hicostlook.cfm

Mortgage Insurance-

There are two mortgage insurance premiums on FHA loans. Upfront and monthly mortgage insurance. The upfront is generally financed into your loan and the monthly gets paid in your mortgage payment every month.

Down Payment-

FHA loans have a 3.5% minimum down payment based on the sales price of the home.

Advantages of a FHA loan –

  • Low down payments
  • Lower credit score requirements compared to other loans, making them easier to qualify for
  • Due to their short waiting period, FHA loans may be great for borrowers with past credit difficulties, including bankruptcies and foreclosures.
  • Generally lower rates than Conventional loans


Christina is an experienced loan officer when it comes to exploring your financial needs. Contact her today to set up your consultation.  301-491-4544.

Contact Us

First Home Mortgage Corporation
Christina Ocharzak, Loan Originator
NMLS ID #1299735

1829 Howell Road Suite 1
Hagerstown, MD 21740
(301) 491-4544

Christina Ocharzak - First Home Mortgage - white logo

Christina Ocharzak - First Home Mortgage

Christina Ocharzak is Licensed in:
Maryland (28722), Pennsylvania (50639),  West Virginia (LO-34064)



Refinancing your current mortgage loan could result in the total finance charge to be higher over the life of the loan. This is not a commitment to lend. Terms and conditions of programs, products and services are subject to change. All loans are subject to credit approval and property appraisal. Certain restrictions may apply on all programs. First Home Mortgage Corporation of America, First Home Mortgage Services, and First Home Mortgage Company of Maryland are d/b/a's of First Home Mortgage Corporation. First Home Mortgage Corporation is licensed in Connecticut, Delaware, District of Columbia, Florida, Georgia Residential Mortgage Licensee (Lic. #23135), Indiana, Kentucky, Maine, Maryland, Massachusetts Mortgage Lender and Broker (Lic. #MC71603), Michigan, New Hampshire, Licensed by the New Jersey Department of Banking and Insurance, North Carolina, Pennsylvania, Rhode Island Licensed Lender and Broker, South Carolina, Tennessee, Vermont, Virginia, West Virginia. Equal Housing Lender. First Home Mortgage Corporation NMLS ID #71603 (www.nmlsconsumeraccess.org). Privacy Policy.