More and more in Redding and surrounding areas are refinancing and purchasing a new home with FHA loans, and there is a huge motivation for that. FHA is an excellent way to make the most of your buying potential. FHA allows for LOW down payments, extremely low interest rates and flexible underwriting guidelines. Because an FHA Loan is backed by the Federal Government, it allows lenders to offer low rates.
FHA Loans do not require a large down payment, and in some cases, there are down payment assistance is available to those who qualify. If you are "upgrading" your home you can take benefit by putting the 3.5% down payment that is required by FHA, these funds may also come in the form of a gift. Additionally, buyers can reduce their out of pocket expenses, by having the sellers contribute up to 6% towards closing costs.
FHA Loans can also be used to refinance your current home as well. It is not necessary that you currently have an FHA Loan. You can take advantage of the lower interest rates available and lower your monthly payments, not only that you can receive cash from the equity in your home up to 85% of your home’s value.
FHA Loans Allow an imperfect Credit History
If your credit is less than perfect, FHA might be the loan for you. You may qualify for an FHA loan even though you have had past financial troubles.
- FICO scores can be lower than those for a conventional loan.
- Bankruptcy. You can obtain an FHA loan two to three years from the date of your bankruptcy discharge, as long as you've maintained good credit since your debts were discharged.
- Foreclosure. If you keep your credit in excellent shape since a foreclosure, an FHA loan will be available to you two to three years from the final date of your foreclosure.
FHA is a great way to achieve your ultimate dream of owning a home. I am happy to assist you in every way possible to make homeownership happen for you, your clients, friends or family. Please CLICK HERE for more information of loan programs. I assist buyers with their home loans in Northern California and other states as well.
Contact me today to see if FHA is right for you. Or CLICK HERE to use our free, refinance advisory tool.
I can also help you with a USDA Rural Development, VA Purchase or Refinance, Conventional & Jumbo purchases and refinance in Redding, CA and throughout the state of CA.
Feel free to contact me anytime at 530-722-3150 or cindy@cindytomlinson.net.
Call Me Today for More Information About:
· Purchasing w/Low Down
· FHA Loans
· VA Loans
· USDA 100% Financing
· 203k Rehabilitation Loans
· Refinancing to Lower Your Payment
· Refinancing for: Cash Out, Debt Consolidation, Remodeling, etc.
· Reverse Mortgages for Seniors
· Home Equity Line of Credit
· Construction Loans
· Commercial Property Loans
I appreciate your business and look forward to talking to you soon! Have a great day!!!
Sincerely,
Cindy Tomlinson
Loan Officer
USLending Company
DRE Lic # 01520422/NMLS # 214851
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** Offer of credit is subject to credit approval. Loan programs are subject to change.
