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Make Getting A FHA Loan Easy.
An FHA loan is a government-backed mortgage that is insured by the Federal Housing Administration. This branch is part of the U.S department of Housing and Urban Development (HUD). FHA borrowers pay for mortgage insurance which protects the lender in case the borrower defaults on the loan. FHA loans do not require a large downpayment and have many advantages over other types of loans. Begin your free loan approval now and start looking for your dream home.
- FHA loans are insured by the Federal Housing Administration, a department of the Federal government.
- These loans were first offered in the 1930’s to make homes more accessible to borrowers with lower down payments.
- FHA loans are great because they require a small down payment, have great rates, and are easy to qualify for.
- Below are some of the best features of the FHA loan program:
- FHA loans allows for Cashout Refinance up to 85% of your home’s value.
- FHA rates are low, even with less than perfect credit profile.
- FHA loans allow for as little as 3.5% down payment, even if you are a first-time homebuyer.
- FHA loans allow for credit scores as low as 580.
- FHA loans allow you to qualify for more home, issuing approvals for borrowers with a higher debt to income profile.
- FHA loans are offered in many loan terms, including fixed rate terms of 30, 25, 20, and 15 year fixed terms.
- FHA Loans allow for shorter waiting periods following significant derogatory credit events, such as Bankruptcy or Foreclosure.
- There are many benefits to purchasing or refinancing using FHA home loan options, to learn more please call or apply online today with Ideal Home Loans!
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FHA Streamlined Refinances
You can also use an FHA loan to refinance your current FHA, VA or Conventional loan. If you currently have an FHA loan, you may be eligible for an FHA Streamline Refinance which doesn’t generally require a new appraisal, asset or income verification as long as you are currently employed.
Ideal Home Lending offers a variety of mortgage products to meet your needs, including competitive FHA loan rates. Our goal is to provide you with the mortgage loan that suits you best. Call us today at 877-752-9177 to discuss what type of loan is best for you. We are a full-service mortgage lender with experienced staff offering expertise in every area of mortgage lending from purchase to refinance to construction lending. Our staff is dedicated to finding you the best loan product at the best rate and helping you navigate the ever-changing mortgage industry!