Dominion Residential Mortgage - DRM offers a full range of loan programs to help make your homeownership dream a reality.

FHA Home Loans

Homeowners should clearly understand what the FHA loan is all about before you decide you should obtain one.  FHA which is also known as Federal Housing Administration, does not make loans or guarantees them like Fannie Mae & Freddie Mac, instead it insures the loans.   All FHA mortgage loans require mortgage insurance.   Lenders pay FHA with the insurance that is collected, which reimburses in the event of a loan default.  The FHA mortgage loan program’s goal is to improve housing standards and conditions.

Two Types of FHA Mortgage Insurance

Mutual Mortgage Insurance - The remaining balance of the loan will be paid by the insurance. In return, over the life of the loan the payment will decrease gradually. The amount will be collected monthly on approved condominiums.

Mortgage Insurance Premium - This insurance has a one time fee of 2.25% of the loan amount. This applies to single family residences and planned unit developments. This fee can be added to the base loan and 100% financed.

Different Types of FHA Mortgage Loan Programs at DRM

DRM offers a variety of  FHA mortgage loan programs.

FHA Adjustable Rate Mortgages (ARMs) - If you are trying to transition into home ownership then you might want to consider this type of FHA mortgage. It is great for low and moderate-income families.

FHA Fixed Rate Mortgages - With rates so low, many people opt for the safety and security of a fixed rate mortgage.

Energy Efficient Loan - This FHA loan program is a great way to lower your monthly utility bills. This is done by adding energy efficient improvements into homeowner’s new or existing housing.

Benefits of a FHA Mortgage Loan

There are many great benefits that come with an FHA Mortgage loan that most consumers do not know about.  Your down payment can be as little as 3% of the purchase price of your home.  Your mortgage loan finance includes the closing cost.  You receive a maximum of 1% origination fee, no credit score requirements; you can qualify for a FHA Mortgage loan two years after bankruptcy, or three years after foreclosure.



What our customers are saying about us...

"Thanks for making it such an easy experience!  You have a great team."
- James S.

"Dominion Residential helped me through one of my toughest times.  Everything was easy and on time.  All of my questions were answered very clearly.  I would recommend them to anyone!"
- Tami M.

"You guys are awesome. "
- Ben P.

"Very easy"
- Enrique A.

"The best mortgage company in the world!"
- Mike B.

"A great rate and really easy.  I will tell my friends."
- Judy D.

"I can't believe you were able to help me.  Thanks for everything and enjoy the cookies!"
- Katie A.

"I am so excited to be in my first home and it is all because of you!"
- Sharon C.

"Thanks for fixing my credit and getting me into a home.  I never thought would be able to do it..."
- Lori T.

"That was the easiest mortgage I ever done.  I will always recommend you."
- Richard K.

"Thanks for helping me!"
- Erin Q.