FHA

If you’re a little concerned about your credit worthiness, FHA might be the perfect fit for your mortgage needs. We can offer a great home loan product with low interest rates and, with FHA, we can often times get those approvals for buyers with credit concerns.

BUYING YOUR FIRST HOME?

FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price. Available on 1-4 unit properties.

DOWN PAYMENT OPTIONS?

Gift funds from family are allowed to cover the 3.5% down payment. Use of retirement funds (like a 401k) withdraw or loan are also possible.

CREDIT CONCERNS?

It is easier to get approved for an FHA loan. You could get approved for an FHA loan as long as you have:

• “Decent” credit; with a score above 620
• Three and a half percent for a down payment

CLOSING COSTS?

Sellers can contribute to all of your closing costs and pre-paid items to close the loan. Meaning, you don’t have any cash out of pocket for closing costs.

HIGHER DEBT TO INCOME?

FHA loans allow for higher-debt-to-income ratios than a conventional loan. Meaning, you could qualify for a larger loan amount.

Gift funds from family are allowed to cover the 3.5% down payment. Use of retirement funds (like a 401k) withdraw or loan are also possible.