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FHA

Loans

Get Further Information on FHA Loans Below

WHAT ARE FHA LOANS?

FHA Loans are issued by federally qualified lenders certified by the United States Federal Housing Authority. This loan is popular amongst first-time homeowners. FHA allows a borrower to have higher debt ratios, lower down payment, and lower credit scores. Also, the guidelines are generally more lenient to help people get into a home.

FHA LOAN BENEFITS

An FHA loan is a mortgage insured by the Federal Housing Administration. This is most used by first-time buyers who have little savings or credit challenges or people reestablishing their credit or employment. FHA loans are issued by approved banks and lending institutions, who will evaluate your qualifications for the loan. Benefits of FHA loans:

  • Lower minimum credit score than conventional loans.
  • Down payments as low as 3.5%.
  • Debt-to-income ratios as high as 50% allowed.
  • No payment reserve requirements.

WHO IS ELIGIBLE FOR AN FHA LOAN?

There are fewer restrictions for FHA Loan qualification. You must prove employment and residency status, have a steady or increasing income for at least 2 years. You cannot have more than two missed payments on your credit. If you filed for bankruptcy you must wait at least 2 years and have good credit since you filed. If you filed for foreclosures, you must wait at least 3 years since the most recent foreclosure. Co-borrowers and gifts are allowed.

WHAT TYPES OF PROPERTY ARE ELIGIBLE?

Most conventional loan programs allow you to purchase single-family homes, warrantable condos, planned unit developments, and 1-4 family residences. A conventional loan can also be used to finance a primary residence, second home and Manufactured homes on a permanent foundation are allowed.

Learn more about FHA Loans here or call Ron.

 

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Testimonials

Ron is a very honest, sincere, and hardworking loan officer. His work ethic and integrity are in line with mine. this is why, I choose to work with this great team As a real estate professional, the business for 35 years, I’ve seen Loan Officers arrive then disappear shortly thereafter.  Ron is one of those select few with staying power in the mortgage lending industry because of his integrity, communication skills, and analytical abilities. If you are looking for a Loan Officer who will go all out and work hard with your best interests in mind, then Andre is your guy!

  • Bob I

Ron has gone above and beyond for us with the recent purchase of our new home. Ron truly cares about his clients, and we are more than happy to recommend him to anyone in the process of purchasing a home or refinancing. Thank you very much, Ron, you are the best!!

  • Rosann J

Ron and his team are everything you would want and expect while going through any loan process. They keep you well informed so that the process is stress-free. They were beyond helpful and made sure that I knew exactly what was going on and took the time to explain and educate me. Being a Veteran, I must say that there is no doubt in my mind that they are truly experts and care about each individual experience!

  • Valentino N

Worked with Ron and he made the process so easy for us.  Loans require a lot of paperwork now and Ron was great at making everything simple and easy.  He kept us updated the entire time and I would recommend him.

  • Steve C

We’ve tried for years to refinance but we would always get a “no” as an answer. He did everything possible for us to get our Mortgage to refinance loan. He never gave up until we got approved. I also want to mention that he was always available for any questions we had. Any doubts we had, he was always there to explain, step by step. Very trustworthy! He went above and beyond!! Thank you, Ron

  • Brant B

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About FHA Loans