Getting A Loan
FHA
FHA Loans
An FHA loan is a type of government-backed mortgage insured by the Federal Housing Administration, a branch of the U.S. Department of Housing and Urban Development.
Loan Benefits:
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Can be a fixed rate
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Can be a 30 year term down to a 15 year term
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Can be funded (start to finish) in as little as 10 business days
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Can have lower down payment requirements
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Can allow you to receive all of the down payment as a gift
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Can allow borrowers with lower credit scores and income to still qualify for a home loan
Borrowing Power
Borrow up to 57% of your debt to income (DTI). This means how much you make vs. how much you owe each month.
*Contact us for your specific scenario.
Speed to Close
Close in as little as 10 business days! Average closing expectation is 30 days or less.
*Contact us for your specific scenario.
Minimum Credit Score
The minimum credit score a typical borrower will need to have is 600.
*Contact us for your specific scenario.
Minimum Down Payment
Purchase with as little as 3.5% down. In many cases the funds can be gifted.
*Contact us for your specific scenario.
