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At Federal Hill Mortgage, we help individuals and families make informed choices on mortgage financing while facilitating the best interest rates to purchase or refinance any property: the home of their dreams, an investment property, a multi-family property, second home or even commercial property.




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Tammy Saul, founding member of Federal Hill Mortgage in 2006, is an award-winning loan originator who has been recognized as a top producer nationally since 2016. Most recently in 2022, Tammy was ranked #1 on the East Coast, #1 in Maryland, and #11th nationwide across several hundred thousand loan originators. She earned her MBA from the University of Baltimore in 1999 and her Juris Doctor (JD) from the University of Maryland in 2001. To this day, Tammy continues to hold her license to practice law but chooses to do what fulfills her most: making the American Dream of homeownership possible through sound, honest, reliable and professional mortgage planning of the highest caliber.


  • You apply for an FHA loan directly with the bank or other lender that you choose. Most banks and mortgage lenders are approved for FHA loans.You can apply for pre-approval of an FHA loan with the lender you choose. The lender will gather enough financial information to issue (or deny) a pre-approval within a day or so. That will give you an idea of how much you can borrow while not committing yourself to anything.All of the above is true for any mortgage application. If you want an FHA loan you should say that upfront."}},"@type": "Question","name": "What Is the Max Amount You Can Get From an FHA Loan?","acceptedAnswer": "@type": "Answer","text": "That depends on where you live as well as on your ability to repay the loan. The maximum amount you will be able to borrow will be based on your financial circumstances.The maximum amount anyone can borrow from the FHA varies by region.In 2022, loan limits range from $420,680 for a one-unit property in a lower-cost area to $2,800,900 for a four-unit home in the country's most expensive cities.","@type": "Question","name": "How Much Does FHA Mortgage Insurance Cost?","acceptedAnswer": "@type": "Answer","text": "FHA loans include both an upfront premium fee, which can be rolled into the mortgage, and a monthly charge, which is added to your mortgage payment and goes directly to the FHA.The upfront fee is 1.75% of the loan amount.The monthly fee is based on the value of the home.To estimate the costs, plug the numbers in an FHA Loan Calculator. For example, it will show that a 30-year FHA loan at an interest rate of 3.955% on a home valued at $250,000 will have a $1,166 monthly loan payment plus a $174 monthly mortgage insurance payment.Most lenders require that borrowers have mortgage insurance if they're putting less than 20% down on the loan. Once the borrower pays off enough of the loan to reach 20% ownership the insurance can be dropped.","@type": "Question","name": "How Do I Get Rid of My FHA Mortgage Insurance?","acceptedAnswer": "@type": "Answer","text": "FHA mortgage insurance lasts for the life of the loan or for 11 years, depending on the length of the loan.The only way to get rid of that mortgage insurance is to refinance the mortgage with a non-FHA loan. Your FHA loan will then be paid off in full. Assuming you own at least 20% equity in the home, you should no longer be required to have mortgage insurance.","@type": "Question","name": "What Are the Downsides of FHA Loans?","acceptedAnswer": "@type": "Answer","text": "FHA loans usually feature higher interest rates than conventional mortgages and require borrowers to purchase mortgage insurance. FHA loans are also less flexible and have loan limits."]}]}] Federal Housing Administration (FHA) Loan: Requirements, Limits, How to Qualify Investing Stocks

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Though principally designed for lower-income borrowers, FHA loans are available to everyone, including those who can afford conventional mortgages. In general, borrowers with good credit and strong financials will be better off with a conventional mortgage, while those with poorer credit and more debt can benefit from an FHA loan.


To estimate the costs, plug the numbers in an FHA Loan Calculator. For example, it will show that a 30-year FHA loan at an interest rate of 3.955% on a home valued at $250,000 will have a $1,166 monthly loan payment plus a $174 monthly mortgage insurance payment. 041b061a72


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