FHA Mortgage

FHA Mortgage Lenders process government home loans for 1st time homebuyers and for clients with bad credit seeking fixed rate refinance or purchase. FHA continues to help renters become homeowners with their low-down payments and low interest loans. Most consumers are unaware that FHA mortgage rates are just as low as conventional rates, yet more accessible.

Buy a home with a FHA mortgage from the Loan Experts for 1st Time Homebuyers!
These home mortgages are also very popular with people who have credit problems, because fico scores are not considered during loan approvals.

Benefits of FHA Mortgages for Purchase or Refinance
We all try to find the best deal when shopping for a mortgage. And, you've probably hear of the FHA loan. FHA stand for Federal Housing Administration, and with built-in mortgage insurance, a FHA mortgage could help homeowners save hundreds of dollars a year.

The law requires any loan for more than 80% of a home's fair market value or FMV to carry Private Mortgage Insurance. In fact, Private mortgage insurance costs homeowners insurance premiums ranging from $250 to $1200 per year. And, the insurance is not tax deductible.

According to FHA Today, "The Federal Housing Administration (FHA), a wholly owned government corporation, was established under the National Housing Act of 1934 to improve housing standards and conditions. Its goal was to provide an adequate home financing system through insurance of mortgages, and to stabilize the mortgage market."

Free FHA Mortgage Loan Quotes!

FHA Mortgage Loan Qualifications:

  • 2 years of steady employment, preferably with same employer.
  • Last 2 years' income should be steady or increasing.
  • Credit report should typically have less than two 30-day delinquencies in last two years.
  • Past bankruptcies must be at over 2 years old, with good credit since.
  • Past foreclosures must be over 3 years old, with good credit since.
  • New mortgage payment should be approximately 30% of your gross income.