FHA California Home Mortgage Loan & Refinance

Need a California FHA Home Mortgage Loan?

If your are currently in an unfavorable Adjustable Rate Mortgage loan, we can help you refinance into a great 30 year-fixed-rate low interest FHA loan.

If you are late on payments after an ARM reset or are at risk of foreclosure, we can help with the California FHA Secure Program.

To find out if you qualify for an FHA-insured mortgage loan, give us a call 808.357.5326 or apply online now and a housing counselor will look at certain information about your income and spending to determine if you qualify.

Many people in the United States dream of owning their own homes, but few are able to pay cash for them. Many individuals and families who could not otherwise afford to own a home become homeowners with the help of the Federal Housing Administration mortgage insurance programs. This could be your key to home ownership. The FHA program offers many benefits not found in conventional programs.

you may qualify If you are:

• buying a home
• refinancing a mortgage for a home you already own
• making home improvements

In fact, almost anyone who has a satisfactory credit record, enough cash to close the loan, and sufficient steady income to make monthly mortgage payments can be approved for this mortgage. There is no upper age limit and no certain income level required, although individual mortgage amounts are limited by law. Generally, homebuyers must live in the home in order to get this loan. The program is not open to investors.

The Federal Housing Administration was established to encourage home ownership throughout the country with the belief that home ownership increases the stability of a community. Prior to the creation of the FHA, large down payments were required to secure a home mortgage loan. At present, a minimum of 3% investment is required by the borrower for the purchase of a home. As an incentive to investors who purchase mortgage loans, FHA insures the loan against default, should the borrower fail to repay. FHA guidelines also allow for greater flexibility with regards to credit history and qualifying ratios.

The FHA California Home Mortgage Loan program opens up opportunities that conventional mortgages do not offer:

• Minimal Down Payment and Closing Costs
• Down payment less than 3% of Sales Price
• 100% Financing options available*
• Gift for down payment and closing costs allowed
• No reserves or required
• FHA regulated closing costs
• Seller can credit up to 6% of sales price towards buyers costs

Easier Credit Qualifying Guidelines such as:

• No minimum FACE score or credit score requirement
• FHA will allow a home purchase two years after a Bankruptcy
• FHA will allow a home purchase three years after a Foreclosure

Easier Debt Ratio & Job Requirement Guidelines such as:

• Higher Debt Ratio's than other home loan programs
• Less than two years on the job is allowed
• Self-employed individuals O.K.

These advantages of the FHA California Home Loans has made it one of the best options for most first time home buyers as well as move-up home buyers.

You do not have to be a first time buyer to obtain a FHA loan, anyone may use a FHA loan as long as you do not have more than one FHA insured loan at any one time.

As professionals in the mortgage lending industry, we've built our reputation on providing outstanding service to our clients. That means you can count on us to always look out for your best interests, and to keep you informed throughout every step of the lending process. Please don't hesitate to call if you have questions about the information you find here on our web site.

If you would like more information, please give us a call 808.357.5326 or apply online.