If you are looking for a mortgage that offers smaller down payment options You’ve Got Choices and relaxed qualifying criteria while Low Down Payment Options for FHA/VA still providing competitive interest rates, a Federal Housing Authority (FHA) or Veteran’s Authority (VA) mortgage may be right for you. Both FHA and VA mortgages offer the flexibility to choose between fixed-rate and adjustable-rate options. Contact me for more information about how an FHA or VA loan can satisfy your financing needs.

Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply. 1009

Benefits Of FHA & VA Loans

The Federal Housing Administration is the largest insurer of mortgages in the world. The FHA makes home financing possible for people who might not qualify for conventional mortgage programs to purchase a home or refinance their current mortgages, including Adjustable Rate Mortgages.

Why choose an FHA loan?

You may find that an FHA loan makes sense, especially if:

You’re a first-time homebuyer You need to refinance your home but don’t have a lot of equity You don’t have a lot of money for a down payment You need low monthly payments that won’t increase Your credit is less than perfect You’re self employed or worried about qualifying Because the Federal Housing Administration insures your mortgage, qualification guidelines may be more liberal than with other types of mortgages. In fact, the FHA guidelines include:

Down payments as low as 3.5% of purchase price Refinance with as little as 3.5% equity Easier credit and income guidelines Easier job requirement guidelines No minimum credit score requirements Home purchase allowed just two years after a bankruptcy Home purchase allowed just three years after a foreclosure Minimal FHA-regulated closing costs More options to help you keep your home and avoid foreclosure, after you purchase your home