When buying or refinancing, FHA loans can be a good choice, for a variety of reasons. To find out if an FHA loans is right for you, fill out our quick form today.
And, FHA loan limits have been raised across the U.S. In some cases, the amount have almost doubled. Contact one of our Mortgage Specialists today to learn what the limits are in your area.
Why FHA Refinance?
- With an FHA refinance, you could refinance up to 97.75% of your home’s value.
- With an FHA cash out program, you can take up to 85% of your home’s value to use however you please.
- FHA refinance loans offer more lenient credit qualifications for people with lower credit scores or who lack a traditional credit history.
- You can apply financial gifts from friends and family toward closing costs.
- You can qualify based on a higher debt ratio (compared to a conventional loan). What does that mean?
- You may be eligible, even if you’ve have a bankruptcy in the past.
Why FHA Purchase?
- Down payments as low as 3.5% of the home price.
- Sellers can make a contribution, also known as a concession.
Why FHA Streamline?
- If you’re currently in an FHA loan, you might qualify for this type of loan.
- An FHA Streamline can offer more flexibility that a traditional refinance because it typically requires less paperwork, no new appraisal and has flexible credit requirements.
Why a USDA Home Loan?
- This mortgage is offered to homeowners in rural areas and is government-backed.
Because every borrower is different, we do not post FHA mortgage rates on our site. Your mortgage rate will depend on a variety of factors. Contact one of our Mortgage Specialists to learn more.