The Lowdown on FHA Loans...
Our FHA Loan Rates Are Low & Our Process is Quick & Painless
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
The FHA program was created in response to the rash of foreclosures and defaults that happened in the 1930s; to provide mortgage lenders with adequate insurance, and to help stimulate the housing market by making loans accessible and affordable.
FHA has long been recognized as the major source of funding for first-time, low-income, and minority homebuyers. The program’s low-down-payment requirements and liberal income qualification guidelines make it a unique mortgage product. Flexible credit underwriting is another benefit. While FHA insured one-fifth of all home purchase loans in 1999, it insured over two-fifths of home loans for African-American and Latino/a borrowers in the same year.
The share of FHA-insured home purchase loans going to first-time buyers increased from 67 percent in 1993 to 82 percent in 2000. In total, over this period, FHA helped 4.3 million first-time homebuyers realize their dream of homeownership. Learn more at the HUD website.
We’re here to make the FHA home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE FHA Loan Qualifier.
We’ll help you clearly see the differences between loan programs, allowing you to choose the right one for you whether you’re a first-time homebuyer or a seasoned investor.
The FHA Loan Process
Here’s how our home loan process works:
- Complete our simple FHA Loan Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
Why an FHA Loan?
Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. An FHA down payment of 3.5%is required. Borrowers who cannot afford a traditional down payment of 20% or can’t get approved for private mortgage insurance should look into FHA loans.
- Fixed Rates
- Adjustable Rate Mortgage (ARM)
- 3.5% Down Payments
- Jumbo & Super Jumbo Loans
- Terms from 5 to 30 Years