Who can benefit from an FHA loan?
- Borrowers with lower or no credit scores who can’t qualify for conventional loans.
- Borrowers who can’t put 5% minimum down payment. A lot of first time home buyers.
- Clients with higher debt to income ratios and can’t qualify with conventional.
- Someone who wants to buy multifamily homes and owner occupy one unit with low down payment.
- Clients who can’t qualify with debt to income and need a co-signer.
- Clients who are getting gift money for their down payments.
Loan Program Details
- 3.5% minimum down payment requirement
- Max loan amount will be $331,760
- Upfront Mortgage Insurance premium financed into the loan
- Condominiums are FHA Single Unit Spot Approvals
- No income limits
- Seller concessions up to 6% of sales price
- Gifts allowed
Get Pre-Qualified Today!
Start the loan application and get pre-qualified today.