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HUD - Federal Housing Administration Home Loans

FHA loans have been helping people become homeowners since 1934. We specialize in providing advice concerning new FHA loans and FHA refinance loans. These HUD loans let you buy or refinance with a low down payment. By not having income limitations or credit scoring, many people will qualify for a HUD home because they can afford the monthly mortgage payments and have reasonable credit.

FHA Loan Highlights

Low down payments
Low closing costs
Easy credit qualifying

Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

Want a fixer-upper?
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Financial help for seniors
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.

FHA Streamline Refinance Loans
The FHA has created a rate reduction program called the Streamline Refinance. This provides a way for current FHA homeowners to lower their interest rate with little or no out-of-pocket costs. These loans can also be made faster and with less documentation than a typical loan.
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Want to make your home more energy efficient?
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about manufactured housing and mobile homes?
Yes, FHA has financing for mobile homes and factory-built housing. We have two loan products – one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.

Need advice? Contact call (800) 331-4715.

Highlights

(July 13) According to a press release issued by the mortgage bankers association, FHA loans now account for one third of all new purchase money mortgages. In the month of June, 38.6% of all new homebuyers used a FHA loan, compared to 27.8% last year.

Government insured FHA loans are attractive for first time homebuyers due to the low down payment requirement of 3.50%. Also, the FICO standard for a FHA loan is 620 or better, allowing for minor credit blemishes. FHA loans can also be combined with a grant or down payment assistance program to reduce closing costs.

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