FHA2018-11-11T21:19:14+00:00

California FHA Loan

An FHA loan is a type of government-backed mortgage insured by the Federal Housing Administration, a branch of the U.S. Department of Housing and Urban Development, or HUD. FHA home loans have lower interest rates and more inclusive qualifications. Therefore, FHA borrowers pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.

The Benefits of a California FHA Loan

Low Down Payment
Minimum down 3.5%

First-time home buyer
FHA is an excellent option for a first-time home buyer; however, you do not need to be a first-time home buyer to be eligible for a California FHA loan. FHA loans are available to anyone and can be used to purchase or refinance a home.

Flexible Underwriting 
The main advantage of a California FHA loan is that the credit criteria is not as strict as the credit criteria for a conventional loan, which is sold to Fannie Mae and Freddie Mac. Another perk of FHA loan is that they allow a higher debt-to-income ratio than conventional loans, meaning they may require less income to qualify.

Credit Problems 
Someone who may have had credit problems or lacks traditional credit can still obtain FHA financing.

Non-traditional credit
If you don’t have a credit score, email us today to see if you are eligible for non-traditional credit qualifying.

Assumable
California FHA loans are assumable, allowing a person to take over the mortgage without the additional costs of obtaining a new loan.

MCC Grant
Call or email us to see if you can qualify for the MCC Grant to make your FHA loan more affordable.

Lender is neither acting on behalf of, nor at the discretion of, the FHA or Federal Government.