Is an FHA Mortgage right for you?
The Federal Housing Administration (FHA) offers assistance to first-time homebuyers and those looking to re-enter the housing market. FHA loan programs can offer several benefits to homebuyers.
FHA Mortgage Details
Can be used to purchase or refinance a primary residence.听
Purchase a new home with as little as 3.5% down.
Refinance up to 97.75% of your primary home's value.
100% of the downpayment can be gifted.
A credit score as low as 580 may qualify.
FHA loans are available to both first-time and repeat homebuyers.听
Limit closing costs by听financing the up-front mortgage insurance payment.
Up to 6% of seller contributions are allowed toward closing costs.
Cash out refinance is permitted.
If you have an existing FHA mortgage, a听streamlined refinance听option is available with reduced mortgage insurance, no appraisal and no income qualification.
FHA Mortgage Details
Can be used to purchase or refinance a primary residence.听
Purchase a new home with as little as 3.5% down.
Refinance up to 97.75% of your primary home's value.
100% of the downpayment can be gifted.
A credit score as low as 580 may qualify.
FHA loans are available to both first-time and repeat homebuyers.听
Limit closing costs by听financing the up-front mortgage insurance payment.
Up to 6% of seller contributions are allowed toward closing costs.
Cash out refinance is permitted.
If you have an existing FHA mortgage, a听streamlined refinance听option is available with reduced mortgage insurance, no appraisal and no income qualification.
Additional Information
Both fixed and adjustable-rate options are available.
Eligible properties include Single Family Residences and approved Planned Unit Developments (PUDs) and Condos.
Receive generous loan limits in designated locations, such as a high-cost area.
Pay off your mortgage at any time without prepayment penalties.
Low mortgage insurance options depending on loan terms and loan-to-value ratio.
We鈥檙e with you every step of the way.
Ready to buy a home?
Buying a home can be stressful. That鈥檚 why we鈥檙e here to help answer questions and keep the process moving, so you can focus on what matters most.听
