FHA Loan
An FHA home loan is the easiest type of mortgage loan to qualify for; because FHA loans are insured by the government they make it effortless for the lender to offer you the best possible deal:
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Minimum 3.5% Down Payment[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Low Monthly Mortgage Insurance
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Low Closing Costs
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Relaxed Credit Score Requirements (down to a 580)
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Quicker to Qualify Post-Bankruptcy
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] If you want to sell your home, the buyer can “assume” your loan
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] FHA Loans are not just for first time home buyers
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Basic FHA Home Loan Info and Requirements:
Basic FHA Home Loan Info and Requirements:
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Two years of steady employment.[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Last two years Income should be the same or increasing.
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Bankruptcies must be at least two years old, with perfect credit since discharge.
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Foreclosures must be at least three years old, with perfect credit since foreclosure.
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] You must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
[icon name=”arrow-circle-right” class=”” unprefixed_class=””] Monthly debt (mortgage, credit cards, auto, student loans, etc.) cannot be more than 43% of your monthly income.
If you have answered yes to most of these basic requirements, you probably qualify for a FHA mortgage loan. Contact 5280 Financial Group, Inc. at (303) 634-2271 or complete the online application and let our expert team guide you through the FHA Loan process.
In turn, if you are in need of a home loan but are worried about bad credit and bringing a large amount of money to the table, contact 5280 Financial Group, Inc. and they will put together a custom mortgage program for you. We can also help you with more information about FHA home loan rates.
Information about FHA Streamline Refinancing – Click here