Cenmark Mortgage Company is proud to offer our clients FHA loan programs. FHA loans can help make your life a little better. FHA loan programs are fast, affordable, and convenient.
The Federal Housing Administration works with lenders throughout the US to offer American Families alternatives to conventional mortgages. FHA does not actually provide mortgage loans; instead they simply insure the lenders that provide the loans. Because FHA insures these loans; it enables lenders to provide mortgages for deserving families that may otherwise not qualify. This helps families that may have experienced hardships, have less than perfect credit, or are in need of fixing their current Adjustable Rate Mortgage situation. FHA also allows families to achieve the dream of home ownership with low down payments and low rates.
Here are some advantages of using a FHA loan to purchase your home.
- 96.5% Financing
- 3.5% Down Payment Requirement
- First Time Buyers
- Previous Bankruptcy
|
- Low Rates
- Fixed Rates
- 30 – 10 Year Terms
- Flexible Income Qualifications
|
- Lower Credit Scores
- Flexible Loan Terms
- Gift Funds Allowed
- Flexible Underwriting
|
FHA offers some incredible advantages when it comes to refinancing your mortgage as well.
- Cash Out – Take cash to payoff debts or do home improvements up to 85% of your home’s value.
- Lower Rate – FHA offers rates that are often lower than conventional rates.
- Lower Payments - With FHA you can consolidate expenses and lower your total monthly payments
- Lower Term – FHA has fantastic 15 year loan programs with very low rates
FHA has raised loan limits across the country. Certain FHA loan programs now offer loan amounts up to $729,000. With these higher loan sizes: more families can qualify for FHA mortgage loans. These loans can provide incredible benefits and offer low rate alternatives to jumbo financing options. These new loan limits can be used to:
- Refinance
- Cash Out
- Home Purchase
To learn what the new loan limits are in your area, call 1-888-CENMARK today.
