FHA & VA Loans

Learn About FHA & VA Loans

Red Diamond Home Loans is an FHA & VA Approved Mortgage Banker. Red Diamond will originate and sell loans to a variety of investors based upon the borrower's specific needs. We also will originate automated underwritten loans and manually underwritten loans.

FHA Down Payments are 3.5%

  • No Significant Loan Level Price Adjustments

    FHA Loan pricing is not severely impacted by Fico Scores like Conventional loan are.

  • Loan Amounts have loan down payment requirements

    FHA loans can be used on a majority of the homes sold in DFW.

  • FHA Loans are Assumable

    If rates climb from their historic lows, those low rate FHA loans will be assumable making it easier to sell those homes.

VA Down Payments are 0% for most borrowers with VA eligibility

  • VA's also have very small Fico adjustments, like FHA loans

    VA does not charge anything based upon the credit score of the Veteran

  • Max VA Loan Amount is $1 million

    A loan over the yearly maximum will require a down payment.

  • VA Loans have reasonable qualifying guidelines for Veterans

    Underwriting guidelines are flexible to meet the needs of Military Veterans

FHA & VA Loan Investors

Red Diamond utilizes a variety of investors for our clients!  We choose the best execution and service levels based upon the needs of our clients. We can make decisions based upon service levels and program types to fit the client into the best investor.