FHA Home Mortgage Loans

FHA loans, AKA Federal Housing Administration (FHA) mortgages, are a good option for first-time buyers and those with lower credit scores or limited funds for a down payment. FHA insures these loans, so mortgage insurance is required.

FHA loans can be used to purchase a variety of properties, including single-family homes, manufactured homes, townhomes and condos. FHA loans can also be used for home improvement projects, as well as for refinancing existing mortgages.

FHA loans can be a good option for many people but they are not the best choice for everyone. Conventional loans offer higher loan limits and PMI is not always required.

 FHA Home Loan Requirements:

• Maximum loan amounts are:  NEVADA: Clark County- $472,030. Email me for your county limit.
• Credit scores as low as 620 are OK with 3.5% down.
• Non-traditional credit is acceptable (utilities, insurance, cell, ect.)
• Seller can pay your closing costs
• Non-occupant, co-borrower (i.e. co-signer) is permitted.
• Up to 55% debt-to-income ratio is allowed.
• No prepayment penalties.
• FHA Renovation/Fixer-Upper loans are available.
• Non-credit qualifying, streamline refinances.
• Versatility: may be used to purchase or refinance a new or existing one to four-family home in urban and rural areas, including manufactured homes on permanent foundation
• No Point loans are available
• Ask about my Funding Guarantee. If your qualified loan does not fund because of financing qualification issues, I will personally pay the seller $1000. This will get your offers accepted over others. In this sellers market, I will work side by side with your Realtor to make your offer stands out, so you get your house!

Contact me and ask me ANYTHING about Real Estate and loans.