With FHA (Federal Housing Administration) gaining market share in the mortgage industry, it is good to have the most up to date underwriting guidelines on the various loan programs FHA has to offer homebuyers.
FHA has 4 popular loan programs:
Standard 3.5% Down Payment: this standard loan program has a comfortable down payment of 3.5% of the purchase price which can be gifted by a family and the seller can if elects to, pay up to 6% of the buyer's closing cost
FHA 203k Rehabilitation loan: Purchase a home that needs upgrades, fix or replace ac/heater unit, roof, kitchen, bath, carpet, paint and other approved repairs
HUD own properties: purchase a HUD home through an approved Realtor® at http://hudhomestore.com.
Energy Efficient Mortgage (EEM): Up to 5% of the appriased value towards energy efficient upgrades using FHA or VA financing. Upgrade windows, heating/air conditioning units, etc.
Please complete the short contact informational form below, so we can discuss the dream of homeownership with a FHA home loan program.
Mountain West Financial, Inc 9227 Haven Avenue #110 Rancho Cucamonga, CA 91730