FHA Mortgage Programs

The JMGroup at Sentrix Financial Services

 

FHA Mortgages are great options for those borrowers who can’t meet some of the strict lending criteria of conventional loans. FHA Mortgage programs are offered through FHA Approved Lenders.

 

The JMGroup are experts in securing the best FHA loans currently available. Our teams of experts are proficient in the various FHA Mortgage programs. Find out more, fill out the contact form and we’ll call you to discuss which of the FHA Mortgage Programs are right for you. Call 866-643-6867 for more information and today’s rates.

 

What Are FHA Mortgage Programs?

 

FHA Mortgage programs are home loan programs intended to make it easier for Americans to own their own home. The FHA (Federal Housing Administration) doesn’t provide the loan itself but insures loans made by private lenders. This means that the FHA will pay the lender if a borrower defaults on a loan.

 

FHA home loans are available to borrowers for their primary place of residence, regardless of whether they have owned a property before. You don’t need to be a first time home buyer in order to qualify for an FHA home loan.

 

What Are The Advantages Of FHA Mortgage Programs?

 

Lower Interest Rates: Typically, FHA Mortgage programs have lower interest rates than some conventional loans. This is primarily because the federal government insures the loan against default.

 

Smaller Down Payment: FHA Mortgages require a smaller deposit on the property. FHA home loans require a minimum of 3.5% of the total property value as the down payment for your home. This is smaller than some other mortgage programs. Additionally, under FHA loan requirements, the down payment can be a gift from a family member, employer or charitable donation.

 

No Credit History Restrictions: With FHA Mortgage programs bad credit may not a problem. Lenders do not rely solely on credit ratings as an eligibility assessment for an FHA home loan. This means that if you don’t have perfect credit, or you have experienced credit problems such as bankruptcy, you may still be eligible for an FHA loan.

 

FHA Refinance Options: FHA home loans have more mortgage refinance options available in times of financial hardship. If you need money for home repairs or home improvements, you use an FHA home loan to get up to 95 percent of the appraised home value.

 

The FHA Streamline Refinance provides low FHA mortgage rates without credit or income documentation. Under FHA loan requirements, you may still be eligible for an FHA mortgage even if you have poor credit or low-income, if you already have an FHA home loan.

 

How Do You Apply for FHA Mortgage Programs?

 

With so many FHA Mortgage programs available, it’s a good idea to consult with a JMGroup representative early in your real estate research. If you would like to discuss the FHA home loans in more detail, or you are ready to apply, contact one of our FHA mortgage experts today.

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