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Hawaii 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.

Your online source for FHA home mortgage loans in Hawaii

Call 855-529-5222 or apply online to get started

To find 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.

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 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.

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.

Federal law prohibits housing discrimination based on your race, color, national origin, religion, sex, family status, or disability

This program opens up opportunities that conventional mortgages do not offer:

  • Expanded Debt Ratios to 29%/41%
  • Non-traditional credit history is considered
  • Expanded credit criteria.
  • All of the down payment may be gifted
  • Seller may contribute up to 6% toward the closing costs.
  • Non-occupant cosigners are allowed.
  • 401-k loans are not counted in the debt ratios.

You certainly 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.

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 855-529-5222

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