FHA Loans

The Federal Housing Administration was created in 1934 in an effort to bolster homes sales during the Depression. By financially guaranteeing loans, the FHA lifts much of the risk of non-payment and foreclosure from private lenders. It is important to remember that the FHA is not a lender; they just guarantee your loan. 


  • Bankruptcy not an automatic disqualification 
  • Lower interest rates 
  • Down payment is less 
  • Lower mortgage points and other closing cost requirements 
  • Resale can be made more quickly 
  • Is backed by the U.S. government 


  • Down payment required 
  • Higher upfront Mortgage Insurance Premium (MIP) than on conventional loans but monthly MIP could be lower 
  • Loan Limits are lower than conventional 
  • MIP required regardless of the Loan-to-Value (LTV) 

FHA 3.5% Down Payment 

  • Lower Credit scores permitted (as low as 580) 
  • Down Payment can be a gift from a family member 
  • Minimum 2 years from Bankruptcy 
  • Minimum 3 years from Foreclosure 
  • Max 6% Seller Assist 
  • 640+ FICO
  • Loan amounts from $125,000 up to county loan limits
  • All fixed term mortgages
  • Single family primary residences
  • Available on single- and multi-wide, condos and PUDs
  • 2-1 and 1-0 Temporary Rate Buydowns available for primary purchases


NMLS #557025


Equal Housing Lender

Contact Us

Joshua Nieves Lending Team - Merit Lending
9960 W Cheyenne Avenue #240
Las Vegas, NV 89129
(702) 580-5069