An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that if a borrower defaults on a loan, that the lender will not have to write off the loan, as the FHA will pay.
An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that if a borrower defaults on a loan, that the lender will not have to write off the loan, as the FHA will pay.
FHA loans are not for everybody. Nevertheless, they are a great help to some borrowers who simply do not qualify for conventional home loans.
FHA loans enable people to become home owners with as little as 3.5% nonpayment. Other loans might not allow such a low down payment.
Whether you’re looking to purchase a new or resale home, or looking to take advantage of historically low mortgage rates, we can help you achieve your borrowing goals with as little as 3.5% down and a loan guaranteed by the FHA
The VA does not lend money or issue loans, but instead pledges to repay about 25% of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
Almost anybody can get an FHA loan. There are no income limits. However, there are limits on how much you can borrow. In general, you’re limited to median home prices in your area. To find the limits in your region, visit HUD’s Website. To qualify for an FHA loan, you’ll need to have reasonable debt to income ratios. You don’t need perfect credit but you will need to have a credit score of at least 620.
All brokers, loans and lenders are not equal, which is why it’s important to have the right brokerage team on your side.
Any qualifying veteran are eligible for a VA home loan. We also offer loan programs for Non-Veteran and retired folks.
Minimum of 5% down payment required on purchases
Minimum credit score – usually 620+
Post- bankruptcy: can qualify after 4 years
Other conditions may apply on a case-by-case basis and subject to lenders qualification criteria.
