FHA Financing

What Is An FHA Loan?

FHA loans are government backed loans that are designed to give home owners and home buyers the absolute best loan options available. FHA financing typically offers a more attractive interest rates and payments.

Qualifications

Anybody is eligible to apply for FHA Financing. However, government backed loans do require that you meet a few prerequisites. While you do NOT need to submit a credit report to qualify, it would be beneficial to do so anyway so long as you have a decent track record.

In addition, you will need to prove steady income that is able to support the payment that you will acquire with the FHA Financing option. It is also vital to prove that you do not have any outstanding debt.

Requirements

FHA Financing requires that the borrower pay 3% of the total loan amount upfront. This is unique to traditional sub-prime loans in that they require nothing down. However, FHA Loans are more sturdy and trustworthy.

In Addition, FHA loans require that the borrower pay 1.5% of the total loan amount as an insurance premium. This must be paid upfront; however, this percentage can be included in the loan taken out; meaning you do not have to come out of pocket.

FHA Financing is an excellent option for any homeowner considering a refinance or a potential homeowner considering the purchase of a new home. We at the Home Litigation Help are dedicated to insuring that you receive the absolute best loan terms possible.

Please contact one of our FHA Financing experts today to begin the application process.

*We are not licensed but are affiliated with many banks to refinance mortgages