Easy Qualifications With FHA Loans
The FHA, or Federal Housing Administration, provides insurance on mortgage loans to encourage lenders to extend loans to individuals who might have difficulties achieving a loan otherwise.
FHA loans help first time buyers, individuals who are not able to put money away for a down payment, and individuals with lower credit scores.
- Lower down payments and closing costs
- Lock in low rates
- FICO’s as low as 580
- Same exact payment every month
Steps to FHA Loans
Before you start the FHA loan process, be prepared to provide some information to one of our loan officers.
- Social Security numbers
- Gross monthly salary
- Banking and financial information
- Tax returns
How FHA Loans Work
- Complete a loan application.
- Provide the documentation required by the lender.
- Down payment of 3%*
- Complete the loan transaction.