FHA Purchase:
We have over 20 years experience in originating FHA Purchase Mortgage Loans. Dealing with professionals who take the time to fully educate you on the process makes all the difference. We have developed an effective consultation to fully inform and educate our clients. Don’t worry, we will educate you about the FHA purchase loan and process.
Get Pre-Approved:
Do yourself a favor and get pre-approved before you get to far into the home buying process. In today’s mortgage lending environment every details is considered. Before you spend your time and put your money down as a deposit on a contract know what your rate, terms, & qualifications are. Being surprised at the last minute is never fun. Get all important details settled early on. FHA Loan Pre-Approval is key. We can help you Get Pre-Approved Now.
Why use an FHA Purchase Loan?
As shown on the home page when comparing the FHA Loan vs Conventional loans there are many advantages. Flexible underwriting, low down payment or down payment assistance, no prepayment penalty, and low interest rates to name a few. There are times when a conventional loan is a better options for the customer and we will let you know those options too. Below see some of the highlights for the FHA Purchase mortgage loan guidelines. Many home buyers have found they can own a home for less than the cost of rent. Calculate your savings below.
FHA Loan Guidelines
| FHA Loan | |
| Max Loan Amount: | varies by county |
| Credit Score: | Typically 580+ down to 520 |
| Down Payment: | 3.5%- 10% by credit score (above) |
| Interest Rate: | Current market |
| Assumability: | Yes |
| Mortgage Insurance: | Yes |
Tips for a Happy FHA Purchase Transaction:
- FHA Appraisals can take several days to complete. Also the property must meet “health & safety” criteria to qualify.
- Get Pre-Approved for an FHA mortgage loan. Understand exactly what you can afford before buying a home.
- Use a Real Estate Agent! An Agent works for you and does not cost you money
- Determine your budget first. Then, let us help you figure out what you can afford and what you qualify for!
- Set up a free home search so you know what homes are available in your price range
- Ask the seller to pay your closing costs up to 6% of the purchase price
WHY use FHA Loan Group.Com?
- FHA Loan Experts can answer your questions and be relied on
- Each buyer is properly educated about the mortgage loan, qualifications, costs, and the transaction
- Our FHA Rates are very low.
- FHALoanGroup.Com has licensed professionals lined up to assist you through the process.
- We have successfully closed thousands of FHA Mortgage Loan transactions
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