FHA Loans

You don’t need picture-perfect qualifications to get a mortgage. For those who look less-than-perfect on paper, an FHA Loan might be right for you.

Federal Housing Administration (FHA) loans are government-assisted mortgage plans that provide an alternative to conventional financing. They were originally introduced to help first time homebuyers with an imperfect credit score but since then, the FHA loan has acquired a wider audience - which even includes homeowners who are looking for refinancing. FHA loans offer more flexibility, especially when it comes to credit score, income level, homeowners’ equity, and down payments. This makes them one of the most preferred alternatives to fixed-rate and adjustable mortgages.

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FHA Loans Are Good For:

FHA loans enable homeowners who do not qualify for conventional loans to purchase a new home or refinance an existing home. FHA loans offer these advantages to a homeowner:
  • ✔ Less stringent qualification requirements
  • ✔ A home equity or down payment of less than 20%
  • ✔ Refinancing opportunities
  • ✔ Cost-saving incentives

  • Up to 96.5% Financing
  • More flexible credit scores
  • More flexible debt ratios 56.99%
  • Can use gift funds as down payment
  • County loan limits (ask a Loan Officer)
  • Cash-Out Refinance 80% financing max.
  • Primary residence only

FHA loans provide one of the easiest ways to qualify for refinancing or for buying a home. The loan is issued by the U.S. Government and is appropriately insured to that extent. It gives the homeowner flexible choices and allows you to:

  • Refinance up to 96.5% of the primary value of your home; and
  • Buy a new home with down payment as little as 3.5%

The actual payment, on account of the FHA loans, will vary depending upon your current situations and the prevalent market interest rates at the time of loan application. Once granted, you can easily pay off your mortgage at any time without any pre-payment penalties. The loan can be offered with 30-year, 25-year, 20-year, or 15-year fixed rates or as a 5-year adjustable-rate mortgage. With the flexibility of FHA loans, you can opt for either based on your goals.

Refinancing your home with FHA loans is faster and easier when opting for a FHA Streamline loan. It requires no potential appraisal. To learn more about this loan and its requirements and benefits, contact us today!

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Secure your FHA Loan At One of Our Branches

With licenses across the country and local branches in your neighborhood, you’ll find it stressless to trust us with your home financing. All of our Loan Officers are federally licensed. Talking to a licensed Loan Officer is the first step to getting the right mortgage loan. Everybody has different loan needs and your Loan Officer will know which questions to ask in order to best match you with the right loan and monthly payment.   Personalized Help. The Loan Officer will also explain all the steps–from getting started, to locking in your low rate, to closing your loan Because we are a direct lender, if you have any questions during the loan process, you will have one direct number enabling you to get quick answers straight from the source.

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