Michigan FHA

Flexible Loans

Michigan FHA loans allow first time home buyers and current homeowners to purchase their new home with only a 3.5% down payment and allows the seller to pay up to 6% of the sale price towards your closing costs keeping your out of pocket expenses low! Michigan FHA mortgage loans are more flexible than conventional mortgage loans. If you have had small bumps in your past credit history and are working with a smaller amount of money, an FHA mortgage loan may be for you.



  • 3.5% down payment. Can be a gift from an immediate family member.
  • Seller can pay up to 6% of the sale price towards your closing costs.
  • Moderate monthly mortgage insurance. Can be lower than conventional with lower credit scores.
  • Michigan FHA Loan Limits apply.
  • No geographic restrictions.
  • Gifts from immediate family members to cover down payment and closing costs are acceptable.

General Loan


  • Credit score minimum of 580 possible. No scores are acceptable with a blank credit report (nothing good or bad). However, 3 non-traditional credit references will be required.
  • No previous mortgage loan late payment in the past 12 months.
  • No foreclosure in the past 36 months. Must have rebuilt credit.
  • No bankruptcies in the past 24 months. Must have rebuilt credit.
  • All court-ordered judgments MUST be satisfied or have a satisfactory payment history.
  • Condominiums must be approved by the FHA. Click here to check FHA condo eligibility.

Low Income But Creditworthy?

An FHA Loan Can Help

An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers. Instead, it provides lenders protection through mortgage insurance in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy, low to moderate income families who do not meet requirements for conventional loans.

Do you qualify?

Restrictions & Limits

To qualify for an FHA loan, the home being purchased must be your primary residence and cannot be for investment purposes. In addition, the amount borrowed must be below the FHA loan limits for your area. In Michigan, for a four living-unit home, the maximum loan limit is $608,150. And the minimum loan amount is $5,000. However, these limits vary by county and home size. Click here for specific information related to your county.

Contact Us

Get In Touch

Looking for loan advice? We’d be thrilled to talk about whether or not an FHA loan could assist you. Call us at 810-227-5600.

Other Loan Options

One size doesn’t fit all. We are confident that one of our loan options will be perfect for you.

203 (k)

Get that home loan and the home improvements all wrapped up in one loan.

Conventional Loan

A standard home loan not needing to be backed up by any other agency.

FHA Loan

Loans backed up by the Federal Housing Administration that require insurance on the loan.


Is a form of a FHA Loan for qualified buyers with a qualified credit score.

Veteran Loans

The VA loan is a mortgage option available to Veterans, Service Members and select military spouses for $0 down.

Physician Mortgage Loan

A Unique loan specially crafted for physicians.

About us

Why Choose Mortgage 1

Since 1994, Mortgage 1 has been helping families throughout Michigan. We offer conventional, FHA, Rural Development, MSHDA and VA home loans for both purchase and refinance. We also offer other loan options if you do not fit the guidelines of these typical mortgage loans, such as Doctor Loans and rehabilitation loans. We will walk you through each step from getting pre-approved, shopping for homes and making an offer.

We believe in treating every client and business partner with the service and respect they deserve. With this principle in mind, it ensures satisfied clients and business partners which result in referrals into the future. I would be honored to assist you and your family with your home loan. Whether you are purchasing your first home or refinancing your current home, allow me to assist you every step of the way so that you have an exceptional experience.


Mortgage 1 Brighton

Mortgage One Brighton guides clients to the best loan options available from trusted, responsive and confident advisors. We help you achieve the joy of home ownership while we gain life long friends.



Rick Fernandez
NMLS #136110


Get In Touch

(810) 227-5600

5925 Meridian #200
Brighton, MI 48116