FHA Loans Help You Become A Home Owner
FHA loans are insured by the Federal Housing Administration (FHA) and make it easier to qualify for a purchase or refinance in scenarios where a borrower may not qualify for a conventional mortgage.
FHA Loan Highlights
FHA loans are used by first-time homebuyers and people with low-to-moderate incomes since this government-insured mortgage features:
- As low as a 3.5% down payment
- Lower credit score and income requirements
- Offer fixed and adjustable interest rates
- May be used for condos and even 1-4 unit properties
- Down payment funds can be a gift
- The sellers can contribute up to 6% of the closing costs
Have an existing FHA mortgage? Using the FHA Streamlined Refinance process we may be able to help you reduce your interest rate or even convert your adjustable rate mortgage to a fixed interest rate. This process usually requires less documentation for credit and income. Contact us to see if you can qualify and save money!