FHA Loans - Purchase a home with 3.5% down payment
FHA Refinance and Purchase Loans In today's mortgage market, getting approved can be challenging. These government sponsored Federal Housing Administration (FHA) home financing loans offer you the most choices with low down payments whether you are purchasing or refinancing.
FHA Program offers you:
3.5% down payment when buying a home.
Cash-Out refinancing up to 85% of the value of your home.
Your entire down payment can be from gift funds.
Loan amounts up to $729,000 in qualifying areas!
0 cash out of pocket programs available to qualified borrowers.
30 year fixed rates available
FHA Streamline Refinances
If you match any of these statements, the FHA Streamline loan maybe great for you:
Your current rate is higher than today's market rates.
You currently have an FHA home loan
To qualify for a FHA Streamline refinance loan, eligible homeowners must meet the following criteria:
A history of on-time mortgage payments for the last 12 months;
No deliquincies on any Federal debt (student loans);
The refinance is to result in a lowering of your monthly principal and interest payments.
No cash may be taken out on mortgages refinanced using the streamline refinance process.
Streamline refinances can also be done without appraisals, but the new loan amount cannot exceed the original loan amount.
For more information about mortgage loans from an FHA approved advisor, please Contact Us Today! We will always make sure you fully understand all your options and the circumstances regarding the loan you choose before any final decisions are made.
Annual Percentage Rate (APR) calculations assume single-family, detached, owner-occupied primary residence; a loan-to-value ratio of less than 80%; a minimum FICO score of 780; and a loan amount of $300,000 for conforming loans or $500,000 for jumbo loans, unless otherwise specified. Annual Percentage Rate (APR) calculations assume no subordinate financing and that the borrower will provide full income documentation. On ARM amortization, the Annual Percentage Rate (APR) calculation assumes an indexed rate (Margin + LIBOR/T-Bill Index) after the initial fixed period of the ARM.
Rates may be higher for loan amounts under $300,000 and over $500,000. Please call for details. Rates are subject to change without notice. Closing Costs assume that borrower will escrow monthly property tax and insurance payments. Subject to underwriter approval; not all applicants will be approved. Fees and charges apply. Taxes and insurance are extra. On refinance transactions, the Annual Percentage Rate (APR) calculations assume a rate and term refinance. 30 Day Rate Lock. Rates based on Pennsylvania property. Third party rate comparison information is deemed to be reliable but not guaranteed. Restrictions may apply
Rates are provided for informational purposes only and reflect the average daily rates of several lenders. Rates are subject to change without notice and are available upon approved credit only.
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