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