FHA Loans

Yes, You May Qualify for an FHA Loan!

Refinancing with an FHA loan
  • You can refinance up to 96.5% of your home value FHA even offers up to 95% cash-out, the highest amount of any our home loans.

Buying a home with an FHA loan
  • Your down payment can be as low as 3% of the price of the home (only until October 1, 2008 – after that, you’ll need a 3.5% minimum down payment).
  • FHA also allows seller concessions up to 6% of your home purchase price.
  • First-time home buyers can get a tax credit up to $7500! “First-time home buyers” includes anyone who hasn’t owned a home in the past three years.
  • Need a lower payment? Ask a mortgage banker about FHA Rate Break – a 1-year 1% reduction in your interest rate! Instead of taking an ARM, choose FHA Rate Break and enjoy a low payment AND a fixed rate.

How FHA Works
  • FHA is available as both a 15- and 30-year fixed-rate loan.
  • FHA loans are created by the Federal Housing Administration.
  • If you'd like a cash-out refinance of up to 95%, FHA Express is the best answer.
  • Refinance up to 97% of your home’s value until October 1, 2008 – after that the percentage drops to 96.5%.
  • Only a 3% down payment required for home purchases until October 1, 2008, after which the minimum down payment rises to 3.5%.
  • First-time home buyers may be eligible for a tax credit up to $7,500. Ask us how!

Refinance with the FHA
  • Use the great flexibility of the 95% cash-out refinance of the FHA Express to get cash to pay off higher-interest debts. Do the right thing and consolidate your debt into one lower payment.
  • If you have an ARM that is adjusting upwards, you can refinance your mortgage up to 97% of your home's value until October 1, 2008 - get in touch with us now before the refinance limit drops.

New higher loan amounts across the country
  • Congress recently raised the loan amounts of FHA loans. This significantly raises the amount of the maximum mortgage that will qualify for the great low rates and security of an FHA loan. Remember, after December 31, 2008, the loan amounts will lower in many counties.

  • Is your ARM adjusting and you need to refinance to a low-cost fixed-rate mortgage?
  • Do you want to get cash out of your home?
  • Do you want a fast approval?
  • Do you have a lower credit score or lower household income?
  • Are you purchasing a home and have a low down payment?
  • FHA has new higher loan limits for every county. Ask a home loan expert today if you qualify!