FHA Helps With Flexibility and Low Money Down
FHA loans are a great option for buying and refinancing. Low money down and flexible credit guidelines allow more people to qualify and makes them one of the most popular loans. With an FHA Mortgage you can still take advantage of low fixed rates and the security of a government insured loan. To find out if an FHA Mortgage is right for you and to see if you qualify, contact me today at (440) 339-3099 or fill out the
online contact form.
Buying a Home With an FHA Loan
- Your down payment can be as low as 3.5% of the purchase price of the home.
- FHA allows 6% of the purchase price of the home to be used for seller concessions. You can use these seller concessions to help pay for you closing costs or even to buy down your interest rate.
Refinance Your Home With an FHA Loan
- With FHA you are able to refinance up to 97.75% of your home's value.
- If you are looking to refinance for cash back, FHA will allow you to refinance up to 85% of your home's value. Use that cash to pay off higher interest debt and lower your monthly payments.
- If you currently have an FHA loan and have been making your payments on time, I have a great program that may allow you to refinance with limited documentation.
FHA Fixed Rate Mortgage
Purchase a new home or refinance your current mortgage into a secure, fixed monthly payment
Assumptions:
- Purchase price is based on $150,000
- Downpayment is based on 3.5% or $5,250 down (Loan Amount is $144,750)
- Interest rate is based on a credit rating of 680 or higher
- Interest rates are subject to change at anytime
- Monthly payment will vary depending on your situation
- My services may not be available in all areas
