505-881-0801 | Info@InfinitiMortgageNM.com | New Mexico MLS ID #187935 - #224396

FHA Loans FAQ

Albuquerque FHA Mortgage Loan Frequently Asked Questions

At Infiniti Mortgage, LLC, we want you to feel as comfortable as possible entering into the home loan process. In order to make the process more transparent, we’ve compiled a list of some of the most frequently asked questions about Federal Housing Administration (FHA) mortgage loans.

Q: What will my interest FHA mortgage rate be?

A: Your FHA mortgage rate is set by the U.S. Treasury, and will depend on a number of factors, including the housing market and economy. Each lender is not allowed to set their own FHA mortgage rate. Infiniti Mortgage, LLC can help you secure the lowest possible loan rate for your home mortgage.

Q: How much do I have to pay down on my FHA mortgage loan?

A: How much you have to pay down on your mortgage loan depends on a number of factors, including your credit history and the amount financed. At minimum, you should be prepared to make a 3.5% down payment on your loan. An experienced loan officer fromInfiniti Mortgage, LLC can evaluate your loan application to give you an estimated down payment amount.

Q: How do I qualify for a FHA Loan?

A: Because FHA mortgage loans are insured by the United States Treasury, they are easier to qualify for. However, a set of requirements must be fulfilled in order to secure one. These requirements include:

  • At least a 3.5% down payment
  • A credit score of 620 or above
  • At least two years of continuous employment

An experienced loan officer from Infiniti Mortgage, LLC can help you understand the requirements and how they pertain directly to your situation.

Q: How much private mortgage insurance is required on a FHA Loan?

A: Private mortgage insurance (PMI) is insurance that the borrower pays every month. This insurance protects the lender in case the borrower should default on the loan. The amount of private mortgage insurance required on your FHA loan will vary, depending on:

  • The terms of your loan
  • The amount of your loan

The loan officers at Infiniti Mortgage, LLC can answer your questions about the private mortgage insurance on your FHA loan and give you an idea about how much you will be paying every month.

Feel free to ask us additional questions. Contact us today to setup a consultation!

Contact Infiniti Mortgage

Loan Programs

Get Started

Call Infiniti Mortgage

Email Infiniti Mortgage


New Mexico MLS ID #187935 - #224396