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FHA Loan

Luxury Mortgage is pleased to offer low money down FHA financing to home buyers and homeowners throughout much of the United States. FHA loans offer buyers low money down home loan solutions with down payments as low as 3.5%. Plus, credit requirements are often more lenient than with conventional financing options. Borrowers currently with FHA loans may be able to take advantage of FHA streamline refinances which eliminate some of the expenses associated with traditional refinancing.

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FHA Loan Overview

Explore some of the benefits of FHA loans
  • Competitive mortgage rates
  • Lower down payment than is available through most mortgage programs
  • Credit score requirements not as demanding
  • Streamline refinancing saves on refinance related expenses
  • Higher Loan-to-Value (LTV) cash-out limits than are available through most refinance products
  • Both fixed rate and adjustable rate options
FHA Loan Qualifications

FHA loan guidelines are similar to conventional agency products in that borrowers must demonstrate their ability to meet monthly mortgage debt obligations. Income, assets, and employment must be verified and meet FHA's minimum requirements. Down payment funds must also be properly sourced. A credit report will be pulled and reviewed by an underwriter.

Borrowers should be prepared to provide:

  • Address information for the past two years
  • Names and contact information of employers for the past two years
  • Past two years' W2s. If self employed, you'll need to supply at least two years of tax returns
  • List of all real estate holdings
  • Full statements (all pages) of any assets being used to qualify (checking, savings, investments, etc)
  • Past few months of pay stubs which show payment-period and year-to-date-earnings
  • Approximate value of personal property owned

Other terms and conditions will apply. Contact a mortgage professional at Luxury Mortgage for more information.

What types of properties may be eligible?

If is important to note that not all lenders offer FHA financing for every type of residential property. At Luxury Mortgage, we offer FHA home loan solutions for most types of stick-built homes, townhouses, FHA-approved condominiums, and modular construction. Properties must be used as the borrower's primary residence. Second homes and rental properties are ineligible for our FHA mortgages.