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About FHA Loan

Insured by the government, the Federal Housing Authorization loan or FHA loan is sponsored by the Federal Housing Authorization. The FHA loans are designed by keeping the first-time home buyer in mind to help those with limited payment resources.

Federal Housing Administration allows getting finance approval with a minimum down payment of 3.5% and crediting score as low as 580.

However, you need to pay for mortgage insurance for your loan’s life in case of less than a 10% down payment for an FHA loan.


Are you sure if an FHA mortgage is suitable for you? If not, contact us, and one of our mortgage loan officers will help you choose the right mortgage option for you.

Get financing for your dream house now

Get the right help when you need it the most to achieve all your life goals and aspirations.

FHA Streamline

With an FHA loan, current FHA mortgage holders can get refinanced without showing any income proof or ordering an appraisal. If you’re an existing FHA mortgage holder, you must go for this option to enjoy a decreased mortgage interest rate.

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Features of FHA Loan

Typically, FHA limits you to have one FHA mortgage to finance your dream home within loan limits decided for your area. However, an FHA loan allows you to have another home featuring less documentation and faster closing. But there are some conditions, which are as follows:

Relocation

You’re relocating for a new job opportunity.

100 miles away

You’re looking for a mortgage for a home that is 100 miles away from your current FHA-financed home.

Growing family

You need to buy a bigger home to meet the resident needs of your growing family.

Divorce

You’re getting divorced, and your spouse is staying in the current home.

You were a co-borrower

You were a co-borrower for someone else’s FHA loan, but now you need to have your own home.

No investment portfolio.

You’re not using FHA loans to finance your investment portfolio

Frequently Ask Questions

Need any help regarding the FHA home loan? Please have a look at the following frequently asked questions by our clients. If you didn’t find your answer, let us know. Our team will reach out as soon as possible with a solution to your every query. Besides, we’re always there to help you know if you qualify for an FHA loan or not.

You have to pay mortgage insurance till the life of the loan for the FHA program. You can’t cancel it if you have made a down payment of less than 10%. However, you can get rid of it by refinancing the mortgage into a conventional loan with enough equity in your home.
No, FHA loans are not just for first-time buyers. Individuals already owning a house can also finance their new home with an FHA home loan. However, they need to meet the essential criteria to be eligible for the FHA loan.
There are no specific income requirements to qualify for the FHA loans.

Get Info

Request more information about a FHA Loan online, All you need to do is provide your details below application form.

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