Loan Option
FHA loans are government-backed mortgages that offer more flexible qualification requirements and lower down payment options compared to conventional loans.
No-impact credit check. No commitment.
FHA loans are insured by the Federal Housing Administration, which allows lenders to offer more favorable terms to borrowers. This insurance protects lenders in case of default, making it easier for individuals with lower credit scores or limited down payment funds to qualify for a mortgage. FHA loans typically require a minimum down payment of 3.5% and have more lenient credit score requirements compared to conventional loans.
Rate/Term RefinanceFHA insured mortgages are some of the best kinds of mortgages available. This is because they can help more people into the home buying market. Check out the list below to understand some of the most basic benefits of an FHA mortgage.
Because they’re backed by the federal government, lenders are more likely to give you the kind of loan that you need.
FHA insured mortgages only require a 3.5% down payment, which makes it easier for people to own homes. The 3.5% can also come in the form of gifts.
Because FHA insured loans are backed by the government, those with a poor credit history have an easier time getting this kind of loan.
With the backing of the government, these loans typically have a better interest rate than most traditional mortgage loans.
The FHA has programs designed to help homeowners keep their homes during hard times. They will work with you to prevent foreclosure.
Check out our list of common questions related to FHA mortgages. Check out our list of common questions related to FHA mortgages.
FHA stands for the Federal Housing Administration. It was created in 1934 to help Americans get into homes.
A FHA insured mortgage is easy to qualify for, can be obtained with less than perfect credit, costs less, and requires a smaller down-payment.
A great source for FHA forms and information is https://www.hud.gov/topics/buying_a_home.
The loan limit across the country is different. Click here to see limits in your area.
Yes, however be sure to check the pre-payment section of your contract before signing.
Yes, through the Energy Efficient Mortgages Program you can finance 100% of the cost of making your home more energy efficient. Contact us to see how.
Yes, the recently created FHASecure is one of the ways that we can help you refinance your current home loan. Contact us now to see what we can do for you.
Yes. Talk with one of our professionals today to see if refinancing makes sense for you.
The recommended debt-to-income ratio for a FHA loan is 30%.
Absolutely, you can assume an existing FHA loan or allow a buyer to assume yours.
Yes, in fact FHA mortgages often require you to carry mortgage insurance for longer than most conventional loans.
Yes, however you might be required to fix certain problems in the home before you can get the full loan. Speak with us today for details.
When applying for an FHA loan, the following documents will help expedite the process. Don't hesitate to contact us with any questions.
When applying for an FHA loan, the following documents will help expedite the process. Don't hesitate to contact us with any questions.
Because your loan is already guaranteed by your existing FHA loan, the FHA will allow you to use your home’s original purchase price as your home’s current value.
Even if you owe more than your home is worth, you may still be able to obtain an FHA Streamline Refinance loan.
No paystubs, W-2s, or tax returns are required. Your payment history is used to determine eligibility instead.
Credit score is not checked. You must have no late payments in the last 90 days and only one or fewer in the last 12 months.
There is no FHA prepayment penalty to worry about, and Streamline rates match standard FHA loan rates.
Applicants must demonstrate a clear purpose — such as switching from an ARM to a fixed rate, or reducing P&I + MIP by 5% or more.
