Low down payment FHA loan, FIXED for 30 years PDF Print E-mail

Rates as low as 4.25% FIXED for 30 years.

FHA Mortgage Services

  • Financing from $100,000 to $729,750
  • Up to 96.5% Loan to Value Ratios or 3.5% down
  • Close as quickly as 7 days
  • 30 Year FIXED with NO Prepayment Penalty
  • Credit scores of 530 and above
  • Purchase Real Estate or Refinance
  • Business/Self-Employed OK
  • Low payments:
    • $100,000 loan for under $492/month
    • $200,000 loan for under $984/month
    • $400,000 loan for under $1968/month
    • $700,000 loan for under $3445/month

Fill out the form on the left or call (310) 878-2318.

 

FHA Loans & Mortgages, Purchase or Refinance Real Estate with Ease

FHA vs. Conventional Loans

FHA Loans have several advantages over conventional loans, benefits include:

  • 3.5% down payment on FHA vs. 20% with conventional loan
  • Lower monthly mortgage insurance
  • Lower closing costs
  • Lower credit score requirement (530+ FICO score OK)
  • Qualify for a FHA loan 2 years after a bankruptcy
  • Qualify for a FHA loan 3 years after a foreclosure

If you're looking to refinance, benefits of FHA loan include:

  • It is easier to qualify for a FHA refinancing loan than it is for a traditional loan. This is because FHA guarantees your loan, which means that they promise the lender that if you skip a mortgage payment, go into default, or they are forced to foreclose on the property, that the lender will get their money back. The FHA guarantees a percentage of the loan, which they pay directly to the lender in the case of foreclosure.
  • You do not have to have perfect credit to refinance with a FHA loan. The FHA requires certain standards in order to offer you a loan guarantee, but the lender is still guaranteed their money in case of foreclosure, so they are more likely to fund the loan even if the borrower's credit is not ideal. Since each situation is unique, call (310) 878-2318 or fill out the form on the left for a FREE personal analysis for you.
  • You can have no down payment or a very low down payment, and still get a mortgage loan. Most traditional lenders require a minimum down payment, which preferably is around 20% of the purchase price of the home. FHA loans only require 3%, and this required portion can be a gift to you. Many lenders don't allow gifted funds to be used for down payments on a mortgage loan, but a FHA loan would allow you to do so. This means that you can borrow the down payment from a friend or relative, or use a down payment gift program, like AmeriDream, that will give you the money for a free down payment on your home. If you are refinancing, you would be able to take more cash out from your home, or refinance sooner, even if you have a very small amount of equity built up in your home.
  • You may get a much lower interest rate on your refinance mortgage. FHA loans can offer much better loan terms than traditional mortgage loans because the loans are guaranteed by the federal government, so there is almost no risk involved. Because of the guarantee, lenders are more secure with the loan, and can offer lower long-term fixed interest rates and fewer points. Because each situation is unique, we do not post rates on this site. To see what rate you can qualify for, call us at (310) 878-2318 or fill out the form on the left for a personalized analysis.
  • The FHA will stand by you in case of an emergency. Most lenders help you get your mortgage loan, and then leave you on your own. Your mortgage may even be sold to other companies, and you would never deal with your original lender again. The FHA stays with you for the life of your loan, and they can help you if you get in trouble. If for any reason you get to the point of default or foreclosure on your home, you should contact the FHA immediately. The FHA has programs that can help you retain ownership of your home in times of crisis.

Fill out the form on the left or call (310) 878-2318.

States we serve in: Arizona, California, Colorado, New Mexico, Oregon, Texas, Washington.
 
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