FHA/VA Loans

FHA LOANS..FOR FIRST TIME HOMEBUYERS ONLY? The short answer is.........no!  FHA loans, which are backed by the Housing and Urban Development of the United States are available to anyone.  Yes there are restictions on the loan amounts for homes funded through FHA but that restriction is limited to a small percentage of homebuyers, especially with the recent loan limit increases.  You can check your city here to find out what your restrictions are: https://entp.hud.gov/idapp/html/hicostlook.cfm . With the recent restrictions placed on conventional loans backed by FNMA and FHLMC, the biggest private backers of mortgages in the US, many homebuyers have either been squeezed out of the market or offered terms that are unacceptable.  We offer FHA loans with competitive rates and  fair, common sense underwriting with approvals either automated or the good old fashion way, by an underwriter!  WHY FHA LOANS MAY BE YOUR ANSWER 3% Down Payment Down Payment can be 100% “gifted” No cash reserves required A seller or third party can pay up to 6% of the loan amount for the closing costs CREDIT PROBLEMS ARE LESS OF AN ISSUE ESPECIALLY IF THEY ARE OVER TWELVE MONTHS OLD LIBERAL QUALIFYING GUIDELINES CHAPTER 7 AND 13 BANKRUPTCIES ALLOWED NO PREPAYMENT PENALTY