•  Get to closing faster – easier to qualify:

• Lower credit scores accepeted
• Lates on credit ok
• Low downpayment
• Family members can cosign
• Higher debt – to – income accepted

•  Protections and advantages:

• No prepayment penalties
• Fully Assumable if you sell property
• Lower mortgage insurance premiums
• Competitive interest rates

•  Easy to close

• Online approvals – immediate results
• Manual approvals (underwritten by a live person) for tougher credit situations

•  FHA programs

• Fixed Rate mortgages are the most common (30 & 15 years)
• Adjustable Rate mortgages are available on request
• Reverse mortgages
• Up to 95% (of your home's value) for cash out refinances
• 97% financing for purchase and rate/term reduction refinances
• 6% seller paid closing costs on purchases
• Gifts allowed for down payment

What is the Federal Housing Administration (FHA)?

The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family, multifamily, manufactured homes and hospitals. It is the largest insurer of mortgages in the world; insuring over 34 million properties since its inception in 1934.