FHA Loans - Services
There are a wide variety of mortgage loan programs which are available through FHA. You will find that they each have unique benefits to meet the needs of each individual borrow.
Buying your first home?
If you are buying your first home, the FHA is perfect for your needs. Most of your closing costs and fees will be included in the loan, and your down payment can even be as low as 3.5% of your purchase price!
Want a fixer-upper?
If you are not buying a new home, FHA has designed a loan that allows you to buy your home, make the necessary repairs and enhancements, and include all of the costs in one loan. Even if you already own a home which you want to fix up, you can refinance the amount that you already owe and add the repair costs.
Financial help for seniors
If you are sixty two years of age or older and live in your own home, you may qualify for an FHA Reverse Mortgage. This is particularly true if you own your home outright, or have a low loan balance. It will allow you to convert a portion of your equity into cash!
You will also find that through your FHA loan, the following programs are made available to you:
- Home Improvement Title - makes it easier for consumers to obtain affordable home improvement loans by allowing loans up to $25,000 without any equity in the home
- Cash-Out Refinance Loans - allows for a mortgage refinance of owner occupied properties
- Single Family Home
- Fixed Rate FHA Loans - Fixed rate loans are FHA's most popular type of loan
- FHA adjustable rate mortgages (ARM) - one of the best adjustable rate mortgages available
- FHA Buydown Loans - 30 or 15 year fixed rate mortgages where you (or the seller) have prepaid interest rate buy-down fees to obtain a lower interest rate
- Reverse Mortgages - allows senior homeowners to borrow against your home equity and receive payments
- HUD Homes
- Officer Next Door - Discount FHA loans for active Police Officers
- Teacher Next Door - Discount FHA loans for teachers
- CHDAP - helps homebuyers in California to buy a home with no money down
- CHFA Loans Loans (CHAFA) - provide up to 100% of home loan financing to prospective eligible first-time homebuyers
- Neighborhood Gold - allows homebuyers to purchase a home with no down payment and no closing costs
- Access 2000 - designed to assist homebuyers in California and a few counties of Nevada to obtain a loan for 103% of the sales price without the assistance of the seller
- 203K - provides rehabilitation mortgage loans for owner-occupants of real estate
