Level Up Mortgage Lending | FHA Loan

FHA Loans

Federal Housing Administration (FHA) loans are a popular option for home buyers, particularly first-time buyers, who may not have a large down payment or a high credit score. FHA loans are insured by the government, which means lenders are more willing to offer these loans to borrowers who may not qualify for a conventional mortgage.

FHA loans typically require a down payment of just 3.5% of the purchase price, making it easier for buyers to get into a home. In addition, FHA loans have more flexible credit requirements than conventional loans, allowing borrowers with less-than-perfect credit to still qualify. These factors make FHA loans an attractive option for many home buyers looking to achieve their dream of homeownership.

Level Up Mortgage Lending | FHA

Some Key FHA Characteristics

1) Low down payment requirement of just 3.5% of the purchase price

2) More flexible credit requirements compared to conventional loans

3) FHA loans are backed by the government, which makes lenders more willing to approve borrowers who may not qualify for a conventional mortgage.

4) FHA loans have fixed interest rates, which can provide stability and predictability in monthly mortgage payments

5) FHA loans allow for higher debt-to-income ratios, which can help borrowers with higher levels of debt qualify for a mortgage

6) FHA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums

7) FHA loans offer options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.

Level Up Mortgage Lending | FHA Loan
Level Up Mortgage Lending | FHA

5) FHA loans allow for higher debt-to-income ratios, which can help borrowers with higher levels of debt qualify for a mortgage

6) FHA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums

7) FHA loans offer options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.

HOW CAN WE HELP YOU TODAY?

We Help Families Just Like Yours Buy or Refinance Their Home Loans

Purchase a Home

There’s nothing better than raising your kids on your own home. We can help you with just a few simple steps to unlocking that American Dream of home ownership.

Rate & Term Refinance

It’s never too soon to start saving money on your monthly mortgage. Rate & Term Refinancing will save you tens of thousands of dollars over the life of your loan.

Cash-out Refinance

Too often the biggest access to cash is a homeowners equity. Remodel your home, pay down debts or take that dream vacation, Cash out Refinance is your ticket out of “Equity-Jail”.

Renovate a Home

Looking to renovate a home? We have options. Give us a call and we will help you get your project funded.

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Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov

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A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov