FHA Insured Mortgage Loans

FHA insured mortgage loans are our absolute best loans on the market today. Here you can find most important facts about FHA insured mortgage loans, FHA benefits and FHA loan requirements, guidelines, rates, calculators and first time home buyer information. FHA loans explained by FHA management video series are on the sidebar of the website. Take advantage of FHA REFINANCE with us - the rates are absolutely great and improving.

What is FHA Mortgage Insurance?

The Federal Housing Administration (FHA) insures mortgages offered by banks, savings associations, and other financial institutions. An FHA-insured mortgage is backed by the full faith and credit of the United States government. While FHA does not make loans, it benefits the homebuyer by providing mortgage insurance which encourages financial institutions to make affordable financing available.

What are the Benefits of FHA Insured Mortgage Loans?

FHA offers low down payment options, eligibility with less than perfect credit, a loan at a reasonable cost, and help if there is ever trouble making the mortgage payment. Because an FHA mortgage insures the lender against loss, an FHA mortgage typically has an interest rate that is competitive with the best in your market and lower than the rates charged for subprime and other non-prime mortgages. FHA not only helps people buy a home, but helps them keep it as well. In return for protecting lenders against loss, FHA requires financial institutions to offer assistance to borrowers experiencing difficulty making mortgage payments.

FHA Mortgage Eligibility

In order to be eligible for an FHA-insured mortgage, a borrower must:

• Occupy the property as the principal residence; • Possess a valid Social Security Number; • Have a two-year employment history; • School and military service count towards this two-year requirement. • Not be delinquent on any Federal debt such as a student loan or other FHA-insured mortgage; and • Meet flexible credit requirements.

More Important Features of FHA Insured Mortgage Loans

• FHA adopted the industry appraisal standards permitting the use of the Fannie Mae appraisal forms with no additional specialized documentation, no Valuation Conditions form or Homebuyer Summary.

• FHA has eliminated unnecessary requirements to make minor repairs.

• The homebuyer and the seller, individually or jointly, can pay closing costs as agreed to in the sales contract. FHA no longer limits what closing costs the homebuyer is permitted to pay.

• Caps on payment and debt-to-income ratios are more generous than most standard conforming mortgage products. The payment-to-income ratio may not exceed 31% and the debt-to-income ratio may not exceed 43%.

• A minimum credit score is not required. In fact, one may not be turned down for an FHA mortgage solely for lack of credit history.

• The buyer’s entire cash investment—as little as three percent—can be a gift from a family member, employer, charitable organization or local government entity.

• The seller can contribute up to six percent of the home’s price toward closing costs through a seller’s concession.

• There are no prepayment penalties on FHA-insured mortgages.

• U.S. citizenship is not required but, for those who are not citizens, they must be lawful permanent or non-permanent resident aliens with a valid Social Security Number.

Additional FHA Programs to Facilitate Home Ownership

In addition to its standard Section 203(b) Mortgage Insurance Program, FHA has a number of other valuable programs designed to facilitate homeownership.

FHA Adjustable Rate Mortgage (ARM) Products

• FHA offers a standard 1-year adjustable rate mortgage (ARM) as well as 3, 5, 7, and 10-year ARM options.

• ARM products may be good options for those who plan to own the home for only a few years, expect an increase in future earnings, or expect a decrease in interest rates.

FHA’s Limited Repair Program

• FHA’s Section 203(k) Limited Repair Program is an excellent financing option for you whether buying or selling homes—especially when repairs are identified during a home inspection or appraisal—because it gives buyers the ability to make repairs after closing.

• Buyers can finance up to an additional $35,000 into their mortgage to pay for minor remodeling such as replacing flooring, installing new appliances, and painting the interior and/or exterior of the home.

Our mortgage loan programs are available nationwide for primary, secondary and investment real estate including commercial projects. Stated Income Stated Assets (SISA) and Stated Income Verified Assets (SIVA) mortgage loans are available up to 65%LTV. We also offer Full Doc , No Income No Assets (NINA) loans, Jumbo Loans and Super Jumbo Loans, construction and construction to permanent mortgage loans, commercial mortgage loans. Take a first step to move into your dream home, enjoy home improvements or eliminate credit card debt - fill out our easy no obligation application form on-line.

We expertly specialize and offer Jumbo Loans and Super Jumbo Loans. Stated Income (Reduced Doc) Jumbo loan programs require 60% LTV, No Income (No Doc) up to 70% LTV. FHA Streamline Refinance, Rate and Term refinance and Cash Out Refinance are available.

We achieved recognition and prominence offering Foreign National Mortgage Loan Programs and encouraging international vacation home buyers and property investors to consider financing projects in US. Our Foreign National Mortgage Loan Programs use world mortgage and currency market to substantial client advantage and competitively taylor loan terms and rates throughout the world. If you want to pay your mortgage with a currency other than USD - Currency Exchange solutions are HERE.