FHA is a division under the US Department of Housing and Urban Development (HUD).
It insures loans made by approved lenders to qualified borrowers. Approval may be
available for borrowers with mortgage lates, bankruptcy, past foreclosures, collections
and judgments. Credit scores are not used in determining eligibility if you are
current on your mortgage.
There are lots of good reasons to choose an FHA loan, especially if one or more of the
following apply to you:
If any of these things describe you, then an FHA loan may be right for you. Why? FHA-insured
loans offer many benefits and protections that you won't find in other loans including:
Lower cost: FHA loans have competitive interest rates because the Federal government
insures the loans for lenders. Always compare an FHA loan with other loan types.
Smaller down payment: FHA loans have a low 3% down payment and the money can come
from a family member, employer or charitable organization as a gift. Other loan programs
don't allow this.
Easier qualification: Because FHA insures your mortgage, lenders may be more willing to
give you loan terms that make it easier for you to qualify.
Less than perfect credit: You don't have to have perfect credit to get an FHA mortgage. In fact,
even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an
FHA loan than a conventional loan.
More protection to keep your home: The FHA has been around since 1934 and will continue
to be here to protect you. Should you encounter hard times after buying your home, the FHA
has many options to help you keep you in your home and avoid foreclosure. property-
whichever is longer.
It insures loans made by approved lenders to qualified borrowers. Approval may be
available for borrowers with mortgage lates, bankruptcy, past foreclosures, collections
and judgments. Credit scores are not used in determining eligibility if you are
current on your mortgage.
There are lots of good reasons to choose an FHA loan, especially if one or more of the
following apply to you:
- You're worried about your monthly payments going up
- You're worried about foreclosure
- You're worried about qualifying for a loan
- You don't have perfect credit
- You're a first-time home buyer
- You don't have a lot of money to put down on a house
- You want to keep your monthly payments as low as possible
- You're worried about what will happen if you fall behind on your payments
If any of these things describe you, then an FHA loan may be right for you. Why? FHA-insured
loans offer many benefits and protections that you won't find in other loans including:
Lower cost: FHA loans have competitive interest rates because the Federal government
insures the loans for lenders. Always compare an FHA loan with other loan types.
Smaller down payment: FHA loans have a low 3% down payment and the money can come
from a family member, employer or charitable organization as a gift. Other loan programs
don't allow this.
Easier qualification: Because FHA insures your mortgage, lenders may be more willing to
give you loan terms that make it easier for you to qualify.
Less than perfect credit: You don't have to have perfect credit to get an FHA mortgage. In fact,
even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an
FHA loan than a conventional loan.
More protection to keep your home: The FHA has been around since 1934 and will continue
to be here to protect you. Should you encounter hard times after buying your home, the FHA
has many options to help you keep you in your home and avoid foreclosure. property-
whichever is longer.
- LOW CREDIT SCORES- NO PROBLEM
- REFINANCE YOUR DEBT TO 95% OF YOUR HOMES VALUE
- ONLY 3% DOWN REQUIRED ON NEW HOME PURCHASES
- REFINANCE WITH LITTLE OR NO EQUITY
- PRIOR LATE PAYMENTS - NO PROBLEM
- LOW FIXED RATES
- QUALIFY FOR THE FHA STREAMLINE RATE REDUCTION
PROGRAM - WHEN RATES GO DOWN, WE LOWER YOUR
RATE!! ASK US HOW - PRIOR BANKRUPTCY - NO PROBLEM
FHA Mortgage Quick Facts
Please visit our BLOG and
discuss your ideas or problems
with other homeowners caught
up in this national epidemic.
discuss your ideas or problems
with other homeowners caught
up in this national epidemic.
1-800-426-5626
| Our business is helping families stay in their homes |
1-800-426-5626
Loan Modification Experts with a proven
track record through TheBrokerNetwork.com
track record through TheBrokerNetwork.com
| CUSTOMER TIPS |
Advice and Timelines:
EST timeline to completion –
60-120 days.
***Depending on Servicer/Lenders
individual turn times.***
1. Any and all items requested from
your lender should be delivered
within 3 days! Many lenders will
cancel a file for inactivity if items
requested are not received by them in
a very timely fashion and you don’t
want to start over from the beginning.
2. Reference your loan number on
every document page during the
follow up process.
3. Update financials every 30 days
along with cover letter “Updated
Financials”.
4.Be diligent and patient.
EST timeline to completion –
60-120 days.
***Depending on Servicer/Lenders
individual turn times.***
1. Any and all items requested from
your lender should be delivered
within 3 days! Many lenders will
cancel a file for inactivity if items
requested are not received by them in
a very timely fashion and you don’t
want to start over from the beginning.
2. Reference your loan number on
every document page during the
follow up process.
3. Update financials every 30 days
along with cover letter “Updated
Financials”.
4.Be diligent and patient.
Flow us On
