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< Loan Programs

FHA Loans

An FHA loan is a loan insured by the Federal Housing Administration, a United States Government Agency under the Department of Housing and Urban Development (HUD).   This is a great Fixed Rate Mortgage Loan with extremely low interest rates.  I originate FHA loans for my borrowers through my large network of regional and national mortgage lenders.  I comparison shop them for you to find you a great FHA loan which best fits your needs.

FHA Loans encourage home-ownership by shifting loan default risk from the lender to HUD.   The borrower pays mortgage insurance (UFMIP/MIP) to HUD and that money is used to buy back the few loans which do default.  The net effect is more lenient underwriting and qualification guidelines than a Conventional Loan and a great, low fixed interest rate.

FHA loans are fantastic for people with little or no money of their own for a down payment and closing costs.

With an FHA loan, you could get a mortgage with a super low down payment, and even in some cases up to 2.25% of the loan amount as a lender credit for closing costs* to help you keep your out-of-pocket expenses to a minimum.  Money for your down payment and closing costs can even come from gifts from your family or close friends!

Co-signers who don’t live in the house are also allowed as “Non-Occupying Co-Borrowers.”

*Call me for more details about lender credit to pay loan closing costs at 561-325-8880

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