Thank you for your inquiry.
If you are looking for a home you may be eligible
for a broad range of programs and services
provided by the Department of
Housing and Urban Development (HUD).
How Does an FHA Loan Work?
- An FHA home loan is a mortgage that is guaranteed by the U.S. Department of Housing and Urban Development (HUD)
- They are issued by private lenders that are approved by HUD
- HUD does not offer loans, we do
- HUD will guarantee your loan
- HUD or FHA loans require a 3.5% down-payment
- You can finance up to 96.5% of the price of the home
- You do not have to be a first time buyer to qualify
- Self-employed or salaried borrowers may apply
- You must occupy the property as your primary residence
- 100% of your down-payment could be a Gift from others
Who is Eligible?
- 2 years of consecutive employment
- Provide 2 years of tax returns
- Provide one month of pay-stubs
- Provide 3 recent months of bank statements
- FICO scores as low as 500 may be acceptable