FHA(Federal Housing Administration) is a government loan program that offers flexible underwriting guidelines including lower or no credit scores. Because of the flexible credit score requirements and debt to income ratios, FHA loans can be very helpful to current homeowners and future home buyers. Pick from a 30/15 year fixed or apply for a government regulated ARM.


Another benefit of FHA are the competitive mortgage rates. Along with VA loans, FHA rates are typically more competitive than conventional loans, especially for borrowers with lower credit scores. Below, you will find some important FHA benefits that may help your situation. Please call or email us if you have any further questions.


PURCHASE Highlights & Benefits

Credit Score as low as 560 + FHA allows higher debt to income ratios.
Great loan for borrowers with good credit score but small down payment
Gift Funds for down payment and/or closing costs from family or employer is ok.
Purchase a home with as little as 2.25% down payment. This will fluctuate depending on loan amount but most commonly it’s 3.5%. Down payment assistance is allowed.
Only 2 years out of Chapter 7 bankruptcy and 3 years out of foreclosure. Small medical and non-medical collections are ok.
Permanent resident alien status is ok. Work visa status ok as long as the work visa has not expired. DACA applicants may be eligible as well.
Use to purchase Single Family Residence, Condo, Townhouse, Manufactured home.

Only 1 month on the job if just graduated from school or 1 month on a new job if no gaps in employment for past 2 years.


REFINANCE Highlights & Benefits

Pull cash-out up to 85% of your home’s value. Loan can be used to pay debt such as credit cards or just get cash at closing. Learn more about cash-out loans

Streamline your current FHA loan. Refinance a current FHA loan without income documentation or appraisal.
Credit scores as low as 560. **Credit score not required on streamlines**
Small collections are ok.
No income restrictions and high debt to income ratios allowed.


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