We can offer these type of FHA loans with as little as a 580 FICO score.
The minimum down payment for a home purchase is 3.5% of the sales price. Available for 1-4 unit properties, FHA approved condos, and manufactured homes.
Compare that to many other lenders that require a 640 FICO score. Because of this, we can get more people qualified.
Refinance for up to 97.75% of the value of your home. Can be used as a rate/term refinance, or to combine two mortgages into one.
Receive cash out to pay off debt, remodel your home, or for any other reason. Up to 85% of your home value.
For purchase loans, borrowers can use a gift from a family member or close friend to be used for the down payment. If you’ve had past credit issues, FHA loans can be an excellent option. There is only a 2 year waiting period requirement for bankruptcies, and a 3 year waiting period for foreclosures.
To see the maximum FHA loan limit in your area, please see the HUD FHA Loan Limits page.
Contact us today to receive more information.
We will contact you within 24 hours to review your options.