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Banking RegistryReal data. Clear answers.Data as of Oct 5, 2026
Banking RegistryReal data. Clear answers.
Herring BankFHA LoansRegistry illustration · issuer artwork unavailable

FHA LoansHerring Bank · NM bank, CO · FDIC 5568

CurrentLast observed Oct 5, 2026Source date Oct 5, 2026Official issuerMortgage · Consumer
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Opening conditions
A credit score of 580 or higher is required. Your total debt payments should not exceed 57% of your income.
Opening conditions
An upfront mortgage insurance premium (MIP) of 1.75% of the loan amount is required. Additionally, you’ll pay a monthly MIP as part of your mortgage payments.
Opening conditions
The home must serve as your primary residence. This loan can also be used to refinance an existing mortgage.
Loan amount
Not disclosed

Rates and fees

Product terms with exact source passages
TermValueAs printed in the sourceSource
Opening conditionsA credit score of 580 or higher is required. Your total debt payments should not exceed 57% of your income.Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“A credit score of 580 or higher is required. Your total debt payments should not exceed 57% of your income.”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
Opening conditionsAn upfront mortgage insurance premium (MIP) of 1.75% of the loan amount is required. Additionally, you’ll pay a monthly MIP as part of your mortgage payments.Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“An upfront mortgage insurance premium (MIP) of 1.75% of the loan amount is required. Additionally, you’ll pay a monthly MIP as part of your mortgage payments.”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
Opening conditionsThe home must serve as your primary residence. This loan can also be used to refinance an existing mortgage.Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“The home must serve as your primary residence. This loan can also be used to refinance an existing mortgage.”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
Loan amountNot disclosedno source read
Loan termNot disclosedHerring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“Customizable Loan Terms”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
CollateralNot disclosedno source read
Prepayment penaltyNot disclosedno source read
Maximum loan to valueNot disclosedno source read
Draw periodNot applicableno source read
Repayment periodNot disclosedno source read
Rate floorNot disclosedno source read
Rate capNot disclosedno source read
APR—no source read
Access to fundsFor Home Buyers And Homeowners FHA Loans Apply to buy a home Apply to refinance Call Now +1-214-225-3166 Start My Approval Online apply or reach out to us for more information. Don’t wonder what’s best. Ask us! We’ve been helping clients find their perfect home loan for 125 years. Call us at 1-214-225-3166 Meet our Mortgage Team Our Home loan experts will guide you through every step of the process, from pre-approval to closing. Frequently asked questions Here are answers to common questions about this loan, based on feedback from people like you during our research. Apply to buy a home: https://www.herringbank.com/mortgage/mortgage-application/get-started/ Apply to refinance: https://www.herringbank.com/mortgage/mortgage-application/get-started/ Start My Approval Online: https://www.herringbank.com/mortgage/mortgage-application/get-started/ apply: https://www.herringbank.com/mortgage/mortgage-application/get-started/ reach out to us: https://www.herringbank.com/mortgage/contact-mortgage/WithheldHerring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“For Home Buyers And Homeowners”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
Secured debt conditionsWith a down payment as low as 3.5% and flexible credit score requirements, an FHA loan from Herring Bank makes achieving your homeownership dreams more accessible than ever. Expanding Opportunities for Homeownership Low Down Payment Option : You only need to contribute 3.5% of the home’s total price upfront. Can I have a co-borrower on an FHA loan? Yes, you can include a co-borrower on your FHA loan. At least one borrower must live in the home as their primary residence. A co-borrower may help you qualify more easily, depending on your financial situation. To qualify for the 3.5% down payment, the co-borrower must be a family member, such as a parent, spouse, child, sibling, grandparent, aunt, uncle, or in-law. Can I put more than 3.5% down? Yes, you can choose to make a larger down payment. Doing so can lower your monthly mortgage payment. Alternatively, you can use the funds for closing costs instead. We’ll help you decide the best approach for your situation. Can I use down payment assistance for an FHA loan? Yes, you may be able to use certain types of down payment assistance programs with an FHA loan. Our Home Loan Experts can help determine what you qualify for.WithheldHerring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“With a down payment as low as 3.5% and flexible credit score requirements, an FHA loan from Herring Bank makes achieving your homeownership dreams more accessible than ever.”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
Opening conditionsEasier Credit Qualifications : Even if your credit history isn’t flawless, you may still qualify, even with past financial challenges. General Guidelines For This Loan If your situation aligns closely with these criteria, we encourage you to The Home The home must serve as your primary residence. This loan can also be used to refinance an existing mortgage. Learn about Refinancing Credit and Debt A credit score of 580 or higher is required. Your total debt payments should not exceed 57% of your income. Learn about Credit and Debt MIP An upfront mortgage insurance premium (MIP) of 1.75% of the loan amount is required. Additionally, you’ll pay a monthly MIP as part of your mortgage payments. Learn about MIP Are FHA loans only for first-time homebuyers? No, FHA loans are available to both first-time and repeat homebuyers. You can also use an FHA loan to refinance your current mortgage. Learn about Refinancing: https://www.herringbank.com/mortgage/refinance/ Learn about Credit and Debt: https://www.herringbank.com/learn/ Learn about MIP: https://www.herringbank.com/learn/WithheldHerring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“Easier Credit Qualifications”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
loan_termCustomizable Loan Terms : Select from flexible repayment periods, such as 15 or 30 years, whether you’re purchasing a new home or refinancing an existing mortgage.WithheldHerring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“Customizable Loan Terms”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
Closing feeClosing Costs Along with your down payment, you’ll need sufficient funds to pay for closing costs. Be prepared to cover these expenses in addition to your initial payment. Learn about Closing Costs Learn about Closing Costs: https://www.herringbank.com/mortgage/mortgage-calculators/closing-cost-calculator/WithheldHerring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“Closing Costs”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
Rate comparisonHow do interest rates for FHA loans compare to other options? FHA loans typically offer lower interest rates than conventional mortgages because they are government-backed. Your specific rate will depend on factors like your financial history, loan amount, down payment, and other criteria.WithheldHerring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“How do interest rates for FHA loans compare to other options?”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website
Future useWhat are my refinancing options with an FHA loan? FHA loans offer several refinancing options: FHA Simple Refinance : For existing FHA loan holders looking to lower their interest rate or monthly payment, or switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan. FHA Streamline Refinance : Available to current FHA loan holders, this option typically doesn’t require an appraisal or extensive credit checks. FHA Cash-Out Refinance : Allows you to take out a new, larger mortgage and receive the difference in cash. Learn more about FHA refinancing options to find the best fit for your needs.WithheldHerring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026“What are my refinancing options with an FHA loan?”Herring Bank · Page Capture Oct 5, 2026 · Captured Oct 5, 2026Website