FHA LOANS
Home Loans for an Easy, Affordable Entry to Home Ownership
A Federal Housing Administration (FHA) loan is a government-insured mortgage that opens the door to home ownership for first-time homebuyers or others with low to moderate incomes and offers flexible qualification guidelines.
Fast, Easy and Affordable Home Loans
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3.5% down payment options available
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Down Payment Assistance can reduce down payment to 0%
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Lower rates with maximum flexibility
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Flexible qualification guidelines
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Eligible financing for purchase, cash-out and no cash-out refinance
By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
Flexible Loan Options
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Choice of Fixed-Rate or Adjustable-Rate Mortgages (ARMs)
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Can be used on most property types
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100% Loan-to-Value (LTV) with Down Payment Assistance
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Available to first-time or seasoned homebuyers
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Required escrow account to pay taxes and insurance directly
A Fixed-Rate Mortgage has an interest rate that remains the same for the life of the loan. An Adjustable-Rate Mortgage (ARM) is a home loan with an interest rate that can change periodically.
Qualification Requirements
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Minimum 580 credit score
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3.5% down payment or 0% with Down Payment Assistance
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Non-occupying co-borrowers allowed
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U.S. Citizen, permanent and non-permanent resident alien status allowed
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DACA and A12 eligible
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Eligible property types: single family residence, 2-4 units, planned unit developments (PUD), townhomes, row homes, modular, HUD approved, condominiums or manufactured housing
Down Payment Assistance (DPA)
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100% Loan-to-Value (LTV) with Down Payment Assistance
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Income limit requirements
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Minimum 620 credit score
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First-Time Homebuyer requirement may apply
Generous Ratios
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Maximum Loan-to-Value (LTV) 96.5%
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Maximum Debt-to-Income (DTI) 55%
Benefits for First-Time Homebuyers
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Less stringent underwriting requirements than most conventional loans
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Loan limits similar to conventional loans
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Access to special home loan assistance programs
