FHA Loans
What are the benefits of an FHA Loan?
Low down payment
Lower Rates
Multiple Applicants
As low as a 580 Fico score
First Time Buyers
Gift of Funds Allowed
Streamline refinance
FHA loans are insured by the Federal Housing Administration (FHA) and the loans are originated by FHA approved lenders. With an FHA loan you will have to pay mortgage insurance, the cost of the mortgage insurance is set by the Federal Housing Administration. The MI premiums help protect the lender in case of a loan default.
Qualifying for an
FHA Mortgage
You can qualify for an FHA purchase mortgage with a minimum 580 Fico score and a maximum debt to income ratio of 43%. A stable source of income is required to assure repayment of the mortgage. We’ll review your income, existing debt and assets after you apply to verify your eligibility. FHA mortgages are only available for primary residence purchase and refinance, second homes and investment properties would fall under Conventional. After you purchase with an FHA loan, you’ll be eligible to refinance via a streamlined process without the need for an appraisal or income verification.
One of our team members can advise you on the best options for your situation.
Get a Quick Quote!One of our team members can advise you on the best options for your situation.
