Califonia FHA Loans:

FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.

FHA loans are an attractive option, especially for first-time homeowners:

FHA guidelines are not entirely credit driven. They do, however, want to see that your most recent 12 month credit history is clean. Credit problems from 12 - 24 months out will not keep you from getting a loan, but they will need to be explained. Bankruptcies, foreclosures, short sales and consumer credit counseling services will all be judged on a case by case basis. This is why having the right loan officer, one who knows how different lenders will react to each of those credit issues, is of the utmost importance for FHA loans. 

Here are some general features of FHA Loans:

• Generally easier to qualify for than conventional loans.
• Lower down payment requirements.
• Cannot exceed statutory loan limits
• Rates vary based on credit profile in 2008
• Reduced monthly mortgage insurance because of upfront premium
• Often higher in closing costs due to upfront mortgage insurance premiums

Contact me today to find out if you can qualify for a FHA Loan or, if not, exactly what you need to do to get qualified in the future.

Learn more about FHA loans. (Department of Housing and Urban Development)

To get started, choose the California FHA Home Loan scenario below that best suits your needs: 

If you have a California Mortgage or California refinance question that you cannot find an answer for on our website, don’t hesitate to use our FREE Ask an Expert feature.
 

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