FHA Home Loan
Purchasing a home without a significant down payment or with challenged credit history can create some roadblocks. The FHA home loan program was created to help home buyers, especially those buying for the first time; attain a home loan without the traditional 20 percent down payment or the higher rates and fees often associated with less than perfect credit ratings. To qualify for an FHA loan, home buyers need just 3.5 percent as a down payment. This makes it an affordable, feasible option for those who are ready to purchase a home, but simply do not have the funds for a large down payment. Additionally, an FHA insured mortgage reduces the requirement for home buyers to maintain a perfect credit rating. They allow those with lower-than-average FICO scores to qualify for a mortgage, and those with bankruptcy or foreclosure in their history can qualify for an FHA loan two to three years after the event

An FHA mortgage will include a mortgage insurance premium that will be added to the amount financed as well as a recurring mortgage insurance payment included in the total monthly payment. In most situations, the monthly mortgage payment is less than conventional private mortgage insurance would otherwise be.

With an FHA insured loan, your past financial struggles will not necessarily keep you from realizing the dream of home ownership in the near future. Additionally, FHA loans do not have income limits and are available to all who apply. FHA does control the loan amount based upon HUD calculated value for your area, but for many home buyers these limits are more than enough to allow them to purchase the home of their dreams. If you are buying a home with little money down or have some challenges with your credit history, let one of our mortgage specialists explain and assist you with your application for an FHA home mortgage today.

C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; NMLS # 135622. C2 Financial is a VA approved lender; not endorsed or sponsored by the Department of Veterans Affairs or any government agency. Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. This licensee is performing acts for which a real estate license is required. C2 Financial is licensed by the California Bureau of Real Estate: Broker #01821025. NMLS #135622. California Bureau of Real Estate #01326712, NMLS#84095.
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