FHA Loans Make Getting Your Home Easier

Why Are You Still Renting and Not Owning?

Are you tired of renting and having nothing to show for your money year after year? With a low-down-payment option, you could buy your own home.

FHA Loans work pretty much like other home loan programs. However, you do need to qualify based on your employment history, income, credit history, and verify you can get or have a gift as a down payment and closing costs.

These loans offer lots of flexibility and options.

About FHA Home Loans

FHA Loans are insured by the Federal Housing Administration (FHA). The government guarantees the loan to cover any losses if the borrower doesn’t make their payments on time and goes into default on the loan.

Back in the 1930s, The government created the FHA program because of all the defaults and foreclosures. The program helped stimulate the housing market and make homes affordable to more people.

We make the FHA home loan process more accessible and understandable with the knowledge and tools at our disposal.

There are several loan programs available with lenient qualifying requirements. And you aren’t subject to any income maximums.

FHA Loan offers lots of flexibility, and you can get pre-approved for your loan after reviewing your cash payment, credit score, income, and payment history.

Here’s How FHA Loans Work

These loans work best if this describes you and your circumstances.

• You can’t qualify for a conventional loan.
• Your credit score is between 500 and 619.
• You have a 3.5% down payment, and you want to buy a fixer-upper and include the renovation costs into your loan amount.
• Within the past two or more years you had a bankruptcy.
• You had a foreclosure in the past three or more years.
• The only way you can qualify for a mortgage is with a co-borrower’s income, who doesn’t live in the home.
• Your total debt-to-income (DTI) ratio is higher than the maximum 50% conventional DTI ratio.

Different types of FHA Loans may be just what you are looking for. Our consultants can explain it in more detail if you consider going with an FHA Loan.