FHA Loans Key Features:
FHA Home purchase loan:
- FHA allows for a lower credit score of 580
- FHA requires a down payment of only 3.5%
- FHA allows for seller contributions of up to 6% of closing
- Gift funds are allowed
FHA Streamline Refinances:
- Must have a current FHA loan to be eligible
- No appraisal required
- No income documentation required
- Mortgage lates within the last 12 months are not allowed
There are many loan options and one size doesn’t fit all. Let us see if you fit the FHA mold by completing these questions.
