FHA Loans
FHA Loans are Government-insured bonds that help borrowers buy and refinance real estate beyond more strict, more conventional borrowing guidelines. The Federal Housing Association is an insurance program that’s been aiding and assisting American consumers since 1934 to become homeowners, and this program was an instrumental component in increasing home building and purchasing after the great depression. Today, it continues to assist the American consumers in financing homes for their families.
What are the benefits of an FHA Loan?
- Loans are approved with credit scores as low as 600
- These loans are GREAT for first-time home buyers
- You can buy a home with as little as 3.5% down… and with down payment assistance programs, as little as 1% down!
- All down payment funds and closing cost funds can be gifted from a family member
FHA Back to Work Program…Helping Home Buyers Hit Life’s Curve Ball out of the park!
- Only requires 12 months since conclusion of Foreclosure, short sale, deed in lieu of foreclosure and/or Bankruptcy.
- Just 3.5% down payment required
- Must document 20% reduction in income for 6 months and/or job loss that led to a qualifying event