FHA Loans

FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal. Your down payment can be as little as 3.5% down and can come from a number of different sources such parents, charities, or many other local, state and federal organizations designed to help homebuyers purchase a home. If you would like to learn more about down payment assistance please see our page entitled down payment assistance.

With the financial troubles of both Fannie and Freddie, FHA has become more attractive than every before. FHA will still allow homeowners to refinance and cash out up to 85% of their current home value. FHA is also making strides to help current homeowners refinance higher interest rates and adjustable rate mortgages in hopes of preventing foreclosure for many Americans.

If you are buying a home, and have served in the US Armed Services, you might qualify for a VA loan. It is a great program that both our active and inactive armed service members can apply for. One of the great benefits that VA allows for is that they do not require a down payment and will lend up to 100% of the purchase price. Applicants must still qualify with their lender and have required documentation such as their certificate of eligibly. Please contact me if you would like additional information or would like to apply for either a FHA or VA loan.