FHA Loans

Veterans, Active Duty Military, and their families, may be eligible to receive FHA Loans, FHA Home Loans, or FHA Mortgage Loans with little or NO down payment. VA Mortgage Funding Fee can offer up to 2% premium depending on the down payment size. If you think you qualify for the FHA VA Loans program then Home Loan US can help!

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FHA Home Loans and Mortgages

FHA Mortgage and FHA Home Loan Programs

Active Duty Military and Veterans, as well as their families have been at the heart of many U.S. Department of Housing and Urban Development (HUD) programs - even before HUD became a Federal Department. For more information about the U.S. Department of Housing and Urban Development refer to our HUD Information Page.

FHA home mortgage loans, mortgage insurance, and the secondary mortgage markets created through the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, have helped make home mortgages affordable for veterans and other working American families.

Since 1965 HUD has coordinated these, and many other Federal programs, to help improve access to quality housing in an effort to strengthen communities for all Americans. For more information on specific programs that are available, go to Key HUD Programs.

FHA Loan Information

FHA loans reflect the Federal Government's commitment to expanding homeownership and home buying opportunities through reduced down payment requirements, mortgage insurance charges, and relaxed underwriting standards when compared to conventional mortgage loans.

The FHA loan program is an outstanding choice for the first time homebuyer because the program requires only 3% cash (which may be a gift) into the transaction and is significantly more forgiving of past credit issues. Specifically, only the last two years of your credit history are looked into. If there are credit problems, they may be overcome with sufficient explanations and supporting documents of why the issues occurred. Never rule yourself out of qualifying for an FHA home loan or mortgage because of credit, get yourself prequalified today.

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For more information go to our FHA Loans Information page.

FHA Loan Requirements

FHA Loan Requirements are set by the Department of Housing and Urban Development (HUD). By having a lender who knows the insides and outsides of FHA loan requirements, you stand a better chance of getting an FHA loan with the lowest rates.

Apply today and Home Loan US will connect you with an FHA Loan lender with years of fha loan requirements experience near you. All you have to do is fill in the questionnaire.

FHA Guidelines Information

FHA loans are great for first time home buyers...

  • The loans are government insured.
  • Lenders are willing to accept smaller down payments (typically 3 - 5 percent of the loan).
  • It is possible for you to finance your closing costs as a part of the loan if you do not have cash on hand.
  • FHA loans are assumable, meaning a new buyer can take over the loan without having to qualify first.
  • You property is more appealing for resale because of the assumable aspect of the FHA Home Mortgage Loan.

FHA loans require what is called a mortgage insurance premium (MIP). This amount can be financed and is typically 2.25% of your loan amount. Keep in mind that this will increase your monthly payment.

FHA Home Loan and Mortgage Limit

The maximum FHA Loan limit available will vary greatly depending on where you live. in some locations the maximum for an FHA loan may be $100,000. In places where the standard of living is higher, your FHA Loan limit could be as high as $200,000.

The FHA recognizes Washington DC and other areas as high housing cost areas and increased the maximum one family home mortgage amount to $234,650. This change has increased the number of homes which qualify for FHA insured mortgage loan financing.

Nationally, the limits for High Cost Areas are as follows:

  • 1 Family...... $239,250
  • 2 Family...... $306,196
  • 3 Family...... $370,098
  • 4 Family...... $459,969

If you are purchasing a second home and do not have enough money to make a large down payment, then an FHA loan or mortgage is great for investment properties. To find out if an FHA loan is right for you, simply fill in the questionnaire.

FHA Home Loan and Mortgage Rates

Programs available are a 30 Year Fixed, a 15 year Fixed, and a One Year ARM with a 1% annual cap and a 5% lifetime cap.

On a 30 year fixed/level payment, the monthly principal and interest payment remains the same for the life of the loan.

The monthly principal and interest payment on a One year ARM (adjustable rate mortgage) can fluctuate based on the index (1 year Treasury Bill), and it has a 1% annual cap and a 5% lifetime cap.

GPM (graduated payment mortgage) allows the borrower to qualify at a lower interest rate but requires a larger down-payment and has negative amortization.

FHA Streamline Refinance Loan

If you'd like to refinance your current FHA loan or mortgage to lower your monthly payment there is a simple low cost "FHA Streamline Loan" refinance process. If your refinance transaction is simply paying off the loan with a new one at a lower rate you will qualify for an "FHA Streamline Refinance without Appraisal". There is no requirement for either an appraisal to prove property value or for any credit evaluation.

FHA has permitted streamline loans on insured mortgages since the 1980's. The streamline loan refers to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction.

For more information and to get the process underway, simply fill in the questionnaire.

FHA Home Improvement Loan

If you'd like to finance your home repairs through an FHA Home Improvement Loan, simply arrange your financing before you start your home improvement construction. A written estimate of the project cost is required before the loan can be funded. Home Loans US will find an FHA Home Improvement Loan lender near you that can place a lien on the property for loan amounts of $7,500 or higher.

For more information and to get the process underway, simply fill in the questionnaire.

FHA Home Loans and Mortgages

This is just one more way that Home Loan US makes loan and mortgage shopping safe, friendly, and secure... right from the comfort of your own home. If you are a veteran or active duty military personal, you may be eligible to receive FHA Loans, FHA Home Loans, or FHA Mortgage Loans with NO or little down payment.

Take advantage of the FHA VA Loans Program Today!

Get Your Mortgage Quote in Seconds! Click Here

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