FHA Home Mortgage Loans- is it an option for you?
Need a Hawaii
FHA Home Mortgage Loan? 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
(FHA home loan) mortgage insurance programs. This could be your
key to home ownership.
online source for FHA home mortgage loans in Hawaii
to get started
out if you qualify for an FHA-insured mortgage loan, apply
online right now. A housing counselor or lender will look at
certain information about your income and spending to determine
if you qualify.
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 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
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.
FHA is a
part of the U.S. Department of Housing and Urban Development (HUD).
One of the chief purposes of FHA is to help people obtain financing
to buy their homes. Buying a home is the biggest single purchase
that most people will make in their lifetimes. Most people borrow
money through a mortgage loan to buy a home. Some people reduce
the amount of money they borrow by making a large down payment on
the loan to buy a home. People who do not have the money for a large
down payment can use this program to get their loan.
qualify If you are:
a mortgage for a home you already own
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
law prohibits housing discrimination based on your race, color,
national origin, religion, sex, family status, or disability
opens up opportunities that conventional mortgages do not offer:
- Expanded Debt Ratios
credit history is considered
- Expanded credit
- All of the down
payment may be gifted
- Seller may contribute
up to 6% toward the closing costs.
- Non-occupant cosigners
- 401-k loans are
not counted in the debt ratios.
have many choices when choosing a lender for your mortgage loan.
We assist you in simplifying the process. Put our experience and
our knowledge to work for you.
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 855-529-5222