Chris Solinski and Sue Beidoun were absolutely fantastic to work with. They not only made the mortgage process smooth and easy to navigate, but they also secured us a rate that beat a credit union by over half a percentage point... which made a huge difference for our family! Communication was clear, timely, and proactive. We always knew what was coming next and felt fully supported throughout the process. Sue kept everything organized behind the scenes, and Chris provided great insight and guidance at every step. Beyond their professionalism, they’re just genuinely good people who care about their clients. We’re… Read more →
FHA Loans. Opening the door for your home ownership.
LitFinancial handles every detail to ensure you get the loan you want. FHA Loans help newer borrowers finally move towards owning or refinancing their own home.
Best for new homeowners and less-established borrowers.
No SSN required. Zero impact to credit.
Your information is never sold.
★★★★★Rated 4.9/5 stars
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No Social Security number needed.
No effect on your credit score.
Your details are never shared or sold.
Takes under a minute to finish.
What is an FHA loan?
An FHA Loan is backed by the Federal Housing Administration and typically used to help less established borrowers purchase a home. The FHA insures the loan, but an FHA approved lender is the one who issues the loan. They typically require two types of insurance to secure the loan.
Is this loan right for me?
FHA Loans are common for first time homebuyers and borrowers who have a difficult time finding a conventional loan from private lenders. They accommodate borrowers with lower credit scores who plan on offering smaller down payment percentages.
How can LitFinancial help?
The smallest numbers and the finest print can have a big impact on your loan, and your life. We simplify the complex and answer all your questions.
Frequently Asked Questions
Let's help make things clearer.
An FHA loan is a government-backed mortgage that helps people buy a home with a low down payment and more flexible credit requirements.
FHA loans require just 3.5% down if your credit score is 580 or higher.
You can qualify with a credit score as low as 580 (or 500 with 10% down, depending on the lender).
No. Anyone can use an FHA loan—you don’t have to be a first-time buyer.
MIP is insurance that protects the lender when you use an FHA loan. It’s required on all FHA loans.
If you put less than 10% down, MIP stays for the life of the loan. If you put 10% or more down, it lasts 11 years.
You can buy single-family homes, condos (that meet FHA rules), townhomes, and approved multi-unit homes (up to 4 units).
Yes! The FHA 203(k) program lets you buy and renovate a home with one loan.
No. There’s no maximum income. The lender just needs to see that you can afford the payments.
Yes. Family members or close friends can give you money for your down payment or closing costs.
Each county has its own FHA loan limit. Your lender can tell you the max for your area.
FHA generally allows a higher DTI, often up to around 50% depending on your credit and other factors.
Yes. FHA loans require a special FHA appraisal to check both the value and basic safety of the home.
No. FHA loans are for primary residences only—you must live in the home.
Most FHA loans close in about 30 days, similar to conventional loans.
Usually 2%–5% of the loan amount. Sellers can help pay up to 6% of your costs.
Not usually. They may require a few extra steps, but timing is similar to other loans.
Yes. FHA offers easy refinances like the FHA Streamline Refinance, which requires very little documentation.
Yes—FHA is more flexible. You may qualify 1–3 years after major credit events, depending on the situation.
FHA loans are great if you want a low down payment, flexible credit rules, and predictable payments. Your lender can help compare your options.
Get started with our quote tools.
Whether you’re estimating your mortgage costs, seeking to simplify and save through debt consolidation, or aiming to explore and compare various loan options tailored to your needs, our intuitive tools are here to guide you every step of the way.
No SSN required. Zero impact to credit. Your information is never sold.
Why choose LitFinancial?
Experience Matters
When it comes to loan officers, we are experienced experts and take pride in leveraging our knowledge to help you every step of the way.
We Are Your Advocate
Our loan officers are advocates through -out your lending journey. From finding the right mortgage plan, to proactively engaging with key stakeholders on your behalf.
Relentlessly Seeking Solutions
We are committed and passionate about helping borrowers find their best financial fit. We tap our trusted network to look at any and all options.
Lit For Life
Our approach to advising is finding the best solution for each client’s life. We will also be there as your needs change through different life stages.
Advising You Like You’re Family
We are a mortgage partner that takes the time to listen to your needs and goals. We care about each client that tailor our advice for your best outcome.
Leading the Industry
We are constantly modernizing lending models, streamlining treasury operations, and increasing transparency across mortgages. This allows us to bring innovative products and better service to you.
Chris Solinski, Executive Loan Officer
“Nothing is impossible. The word itself says ‘I'm possible!’”
People like LitFinancial
When you love what you do, it shows.
We were moving 1800 miles across country and worked with Chad Pounders at Lit Financial to broker our mortgage. As difficult as remote home buying can be, the financing was the least stressful by a wide margin and I credit that to Chad and his team at Lit. Communication was always quick and Chad showed a ton of patience as we worked through inventory with our realtor. Chad is knowledgeable and was open and honest about our options as we moved through the process. I highly recommend reaching out to Chad and his team at Lit if you are in… Read more →
We did a refinance on our home, and James Abdallah was very professional, assisting us every step of the way with any information we needed and answering any questions that we had. The entire process was very fast and we felt very comfortable with how knowledgeable he was. He was easy to contact and available at all times for us. We ended up getting the deal that we wanted with a quick turnaround time. A special thanks to Lex and Sue as well for their help as part of the team! I highly recommend working with the Lit Financial team… Read more →
Chris Solinski nailed it AGAIN. Love working with Chris... He makes things easy and efficient. I think we've done 12 or 13 loans with Chris now (and we'll do more). Missy and Tony were great to work with during the process, as well. Great team. Recommended! Read more →
Work with Jay Saad on a 10 year fixed refinance on my home in NJ. Jay was very knowledgable and helpful. He also got me a great rate! Had a few hiccups along the way but he was very quick to respond and alleviate any concerns. Would highly recommend Jay and Lit Financial in the future to any friends looking to buy a home or refinance. Thanks again! Read more →