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FHA MORTGAGES - Guidelines change, so Check with your
Loan Officer for Details!
APPLY here
FHA Secure info
FHA
Secure guidelines
HUD
Rule Update - re: Down Payment Assistance
Information
on the Nehemiah "Down Payment Assistance" program for Homebuyers
Notes on FHA mortgage loans:
-Only 3% minimum investment required!
Charitable organizations can help with the 3%!!!
-Debt-to-income ratio as high as 41%*
-Requires 1.5% up-front mortgage insurance (BUT - this is financed)
-Requires .5% monthly mortgage insurance ("M.I.")
-Loan limits that vary by county - Visit these LINKS for more information:
FHA Loan LIMITS:
https://entp.hud.gov/idapp/html/hicostlook.cfm
Info on our main mortgage center:
http://locator.fha.gov/cgi-bin/answers_hud_loc.cfg/php/loc/enduser/details.php?p_locationID=46492
-MI may be able to be cancelled when loan-to-value = 78% or less
-Allows for No
cost / No qualifying refinance if interest rates go down ("Streamlines")
This is a HUD or government insured loan that allows you to buy a home for only a 3%
investment. FHA loans do, however, requires both an up-front MI payment of 1.5%
of the loan amount and monthly MI payments of .5% of the loan amount (paid as part
of your monthly mortgage payment). The Down Payment can be gifted by parents,
employer, etc. as long as the borrower contributes 3% of their own funds towards the
purchase. The 3% minimum investment could be used to pay closing costs, mortgage
insurance, etc. HUD allows the total debt ratio to be as high as 41%. HUD has maximum
loan limits for each county which are significantly lower than conventional limits
(county limits listed below). Beginning Jan. 1, 2001, HUD will now allow mortgage
insurance on an FHA loan to be cancelled when the loan-to-value of the home reaches 78%.
An FHA loan is excellent for someone who has less money to put down, and someone who has
more debt or whose credit is not quite as good.
FHA Loan Limits - VARY by COUNTY.
See:
(new!)FHA LOAN LIMITS (Click
Here)
Questions??? e-mail us at: email link
FHA Streamline Refinance
-No out-of-pocket costs!
-No re-qualifying required!
-No information on debts or income needed!
FHA allows you to refinance, with no qualifying, anytime interest rates go down. All
that is required is to show that your mortgage has been paid on time for the last 6 to 12
months (we get a mortgage credit rating on you). That's right! We don't need any
information on your current debts, income, employment, etc. We will have to get some basic
information for an abbreviated application but that's it!.
See how easy it is to lower your mortgage
payment and start saving $ today!
MortgageOffice.com exists to help borrowers find competitive mortgage
loans and financing for all their mortgage needs - whether it is a purchase mortgage or a
refinance mortgage. We do first mortgages and second mortgages. Home loans are what we
specialize in, whether they are owner occupied or investment. MortgageOffice.com can handle residential mortgage loans, or Commercial Properties - starting at $250,000 and up to and Over
$100,000,000. Owner occupied Home
Purchases can be up to 107% and refinances up to 125% of the value of the home - based on
appraised value or sales price. We
have a great 90% "Stated Income" program for: Non-owner, residential
Investment purchases - at LOW conventional, conforming type Rates. Mortgages are what we do...Refinances, Purchases,
Conforming, Non-Conforming, Sub Prime - 1st mortgages or 2nd mortgages. On a purchase
loan, the seller can pay up to 6% of the non-recurring closing costs. Residential
conforming-type loans can go up to $2,000,000; whereas our Sub-Prime allows up to:
$4,000,000 Loans.On a refinance mortgage, we can do 2nd mortgages up to 125%, depending on
credit and location and property. Debt consolidation refinances are a specialty also - so
that a client borrower can save money and reduce monthly payments in order save for
retirement, put a child through school, purchase a new vehicle, etc. We also do quick
pre-qualifications on your mortgage applications. Questions? e-mail
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100% home loans, no
down mortgage loans, zero down financing, no down payment, Down payment assistance,
countrywide,100%, 90% investment property, NOO, Online application, 100% owner
occupied primary residence mortgage loans, loanweb, ditech, pre-qualify,
lending tree, eloan, e-loan, quickenloans, quicken home loans, e-loan, 95-97% refinance,
refi, real estate, chase, ameriquest, lendingtree, jp morgan chase, h&r
block, bank loan, CA, AZ,CO, CT,HI,ID,IL, IA, KS, MA, MD, MN, MO, MS, NC, NE, NJ,
NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, WA, VA, WI, FNMA, Fannie Mae,
FreddieMac, FHA, VA, FHA Secure
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Mortgage
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