FHA Loans
FHA Loans
FHA loans are the most popular government-backed home loans in the country and are made only by qualified lenders. The loans are guaranteed to the lenders by the Federal Housing Administration (FHA).
FHA loans require as little as 3.5% down for borrowers with at least a 580 credit score. Because of the government backing, FHA interest rates are typically lower than average rates for conventional mortgages.
If you need help with making an action plan to get your score up, ask me for referrals to folks who specialize in these matters. Then once you are at a level to qualify, we will help you complete the process!
Additionally, you will want to understand that FHA loans allow sellers to pay up to 6% of the loan amount to help cover the buyer's closing costs! The limits are different for conventional loans in which sellers can only pay up to 3% of the closing costs. So if you need seller's concessions, this should be considered when submitting an offer to purchase a home.
There are also several first-time home buyer grant and second mortgage options available for down-payment assistance based on other qualifying information. Feel free to reach out to me for more information.
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Contact Info
Office: 4967 NE Goodview Cir STE B, Lee's Summit, MO 64064 | Remote Availability: Leavenworth County, KS, United States of America
(913) 705-0049
NMLS #2249004 | Brokerage Copeland Mortgage Co. DBA Summit Lending NMLS #1850081
https://nmlsconsumeraccess.org/
This page is the property of Journey Marketing, LLC. All content is the property of Journey Marketing, The Huntress Home Loan Pro, and Theresa Rolen. Some content is also from Copeland Mortgage Company doing business as Summit Lending. None of the content should not be considered the property of any one else or any other company. You may not use the content on this page without express written permission from the company or companies that have their content and copywrited materials on this page.