Fixed Rate FHA

• Do you have less than perfect credit and still want to qualify for a home loan?

• Are you lacking cash to use as a down payment, or have less than 20% equity in your home?

FHA home loans are one of the easiest loans to qualify for. If your credit score is below 620 or have Bankrupcies this is a great place to start. These loans are government insured, which opens up the opportunity for more Americans to own a home. Your credit score can be as low as 580 to qualify.

For a primary residence, you can refinance up to 97.75% of your home’s value, Your down payment can be as little as 3.5% down. Pre-payment penalties do not apply, and you can select a fixed rate using a 30, 25, 20 or 15 year term. These loans do carry private mortgage insurance (PMI)

You can also refinance up to 80% of the value of your home. Appraisals are mandatory for these loans.

It is common to start here and refinance into a conventional loan in a few yearsdown the road to remove mortgage insurance.

Apply for FHA Loan

Adjustable Rate FHA

• Do you want to take advantage of today’s lowest possible interest rate, but have struggled with your credit in the past?

• Do you plan on refinancing, or moving in the next five years?

An FHA variable rate loan gives you the benefit of today’s low interest rate, while easing up on qualification requirements.

After the initial five-year fixed rate, your interest rate will increase or decrease annually over the duration of the loan, depending on the fluctuation of the interest rate. Credit score and down payment requirements are the same

If you are planning a move in the next few years, or simply want to take advantage oofr the best rates, this is a great option for you.