FHA Loan Home Requirements
What is a FHA Loan?
If you want to apply for a Conventional Loan to buy a house, most lenders would require a higher credit score.. If your credit score is less than perfect, or if you are at the dawn of your financial journey, you may need help with a FHA Loan. You could apply, be beware of the downsides if you don’t have a professional by your side to guide you. Apply now to get the support and information from mortgage companies Bullhead City, AZ that is required to navigate past loan hurdles.
FHA Loan advantages
- Lower Credit Score Requirement
- Lower Down Payment
- More Forgiving Debt-To-Income Ratio
- FHA Loans Are Assumable
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FHA Loan
Low Credit Scores | Lower Cash to Close | Lower Down Payments | Popular 1st Homebuyer Loan
Typical first-time homebuyer plan
Lower down payment required
Up front mortgage insurance premiums financed
Monthly MI premiums
580+ Credit Scores
Lower minimum cash to close
debt to income thresholds are higher
No out of pocket closing costs possible*
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*closing costs on FHA refinances can be added to the loan amount. On FHA purchases, a higher rate will be used and NFM Lending will use the premium to pay on the behalf of borrower.