FHA Loans

A FHA Loan is an excellent option for someone in an urban or rural environment who is considering purchasing a home and would like to make a low down payment. The FHA is fairly lenient with credit. You can apply even if you have no credit history, if you can prove that you have met past financial obligations.

With the recent problems suffered by sub prime mortgage lenders, FHA loans are making a strong comeback as a useful alternative for first-time home buyers and home buyers with less than perfect credit.

Program Benefits:

• Lower downpayment at competitive rates.
• Total cash investment may be as low as 2.25%.
• Loan to 100% of total investment with gift form and eligible source.
• Seller may pay prepaids and closing cost up to 6%.
• Cash reserves not required.
• Higher and flexible qualifying ratios.
• More leniency on derogatory credit.
• Non-occupying Co-Borrowers Allowed.
• Up front MIP may be financed.
• No prepayment penalties