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Any House

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866.866.5274

FHA Mortgage

Federal Housing Administration (FHA) is one of the least stringent mortgage loans to qualify for. The FHA mortgage program was established in the 1930’s to help stimulate housing market during time of high foreclosure and mortgage defaults. The FHA mortgage program insures home loans to help reduce the risk that lenders assume. In turn, mortgage lenders are able to offer a more affordable and less stringent home loan option.

  • Low Down Payments – As low as 3.5% of the purchase price
  • Low Closing Costs – most can be included in the loan
  • Easy Credit Qualifying – 580 for maximum financing with minimum 3.5% down payment

FHA Mortgage Requirements

  • Must be able to prove steady employment for the past 2 years
  • Must have a valid drivers license and be of legal age to sign mortgage contracts
  • Must be able to make a minimum down payment of 3.5% of the purchase price (can be gifted by family)
  • Must be the primary occupant of the residence
  • Must obtain a property appraisal from FHA-Approved Appraiser
  • Your monthly mortgage payment plus all your monthly debt must not exceed 43% of your gross income. (some exceptions may apply)
  • Your monthly mortgage payment plus property taxes and home & loan insurances must not exceed 31% of your gross income. (some exception may apply)
  • If ever filed bankruptcy, must be beyond 2 years and have established some good credit
  • If ever had a foreclosure, must be beyond 3 years and have established some good credit

Contact Us To Start Your FHA Mortgage: 866.866.5274

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