>> FHA Loans



Government loan programs
Did you know that not all mortgage companies can offer FHAloans?

New FHA Loan Limits up to $729,750

FHA loans

An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. FHA has anup-front MIP that is financed into the loan amount. Available to all buyers and home owners, FHA loan programs are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans,or those who want the advantages the FHA loanaffordscompaired to other conventional loan programs.

FHA loan programs are particularly beneficial to those buyers with less available cash for down payment, or who need more flexible underwriting criteria.

Some of the other benefits of FHA HOME PURCHASE financing:

Only a 3 1/2 percent down payment is required.Closing costs can be financed.lower monthly mortgage insurance premiums and, under certain conditions, automatic cancellation of the premium.More flexible underwriting criteria than conventional loansFHA limits the amount lenders can charge for some closing cost fees (e.g. the origination fee can be no more than 1% of mortgage). Loans are assumable to qualified buyers. The rates on FHA loans are generally market rates. Depending on the borrower's credit scores, the interest rate on an FHA loan will be lower than on conventional loans. Also the MIP in many cases will be lower than mortgage insurance on conventional loans. Down payment requirements are lower than for conventional loans.

FHA HIGHLIGHTS

    • New FHA Loan Limits up to $729,750

    • 97.75% MAX Loan-To-Value PURCHASES

    • 3.5% DOWN PAYMENT REQUIRED ON PURCHASE

    • 85% CASH OUT refinances ALLOWED

    • 100% ALLOWED with Down-payment assistance(from family member)

    • UP TO 3% SELLER CONCESSIONS (seller can pay your closing cost, ect..)

    • GIFT FUNDS for downpayment ALLOWED (from family member or maybe local community)

    • 55% MAX Debt-To-Income ratios ON Purchase& Rate/Term refis

    • 640 mimimum FICO score required

    • NO RESERVES (means youare not requiredto have cash assets)

    • NON-OCCUPYING CO- BORROWERS allowed

    • 30 YEAR FIXED TERM
    • NO income restrictions (no maximum income limits, and low income is not required to get an FHA Loan.)

    • PRIMARY RESIDENCE ONLY

    • FAST SERVICE GREAT COMMUNICATION

    • GREAT LOW RATES!!!

Fields marked * are required
First Name *
Last Name *
Address: State *
Email *
Home Phone *
Cell Phone *
Questions or Comments *



American Home Lending USA, LLC. All rights reserved.
Illinois Mortgage Licensee MB.6760542

Missouri
Residential Mortgage Licensee 09-1661
Mississippi Mortgage Licensee #71983
NMLS # 71983

State of Illinois Dept. of Financial & Professional Regulation - Division of Banking 1225 Michigan Ave. Chicago, IL. 60603; 312-793-3000 -
www.idfpr.com

Privacy notice: Your privacy is protected on this site. We will never reveal, sell, or submit your name, address, telephone numbers, tax numbers, or e-mail address to any other vendors, real estate agents, mortgage companies, or banks.