FHA Loan

FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.

FHA loans are an attractive option, especially for first-time homeowners:

  • Generally easier to qualify for than conventional loans.
  • Lower down payment requirements.
  • Cannot exceed statutory loan limits.

Learn more about FHA loans. (Department of Housing and Urban Development)

FHA Purchase

  • Minimal Down Payment and Closing Costs.
    • Down payment less than 3.5% of Sales Price
    • 100% Financing options available*
    • Gift for down payment and closing costs allowed.
    • No reserves or required.
    • FHA regulated closing costs.
    • Seller can credit up to 6% of sales price towards buyers costs.

     

  • Easier Credit Qualifying Guidelines such as:
    • Minimum FICO credit score of 620.
    • FHA will allow a home purchase two years after a Bankruptcy.
    • FHA will allow a home purchase three years after a Foreclosure.

 

FHA Refinance

  • Cash-Out Refinance up to 85% for existing or new FHA mortgages.
    • Cash-Out up to 85% of your properties value.
    • Consolidate first and second mortgages into single loan.
    • Bill consolidation programs.
    • Easier credit and income qualifications.
    • FHA regulated closing costs.

     

  • Rate and Term Mortgage Refinancing up to 96.5% of your homes value.
    • Consolidate first and second mortgages* into a single loan.
    • No FICO score ok or min. 620 credit score.
    • Competitive rates for borrowers with a Bankruptcy older than two years.
    • Competitive rates for borrowers with a Foreclosure older than three years.
    • Easier credit and income qualifications.
    • FHA regulated closing costs.

     

  • FHA Streamline Refinance for existing FHA loans only.
    • No Cost Interest Rate Reductions programs.
    • No Income or Credit Qualifications*.
    • Zero cost refinance options available.
    • Easily switch amortization for adjustable to fixed or vice versa.

Call 800-725-9902 to schedule a strategy session with a Home Mortgage Expert