Home Loans California & Arizona

Who Does FHA Purchase Home Loans in Fontana, CA

April 15th, 2018 2:53 PM by Nathan Rufty

Mortgage Broker in Fontana who does FHA home loans. FHA is a great option to purchase a home in Fontana CA with as little as 3.5% for the down payment. 

The Benefits of utilizing the FHA home loan program to buy a house in Fontana CA are:
  • County loan limit is high at the moment, the county loan on what the amount HUD will insurance changes from time to time
  • Rates are generally lower than the Conventional home loan program
  • Interest rate is not factored as much on the credit score like the Conventional purchase program 
  • Allows for a higher debt to income ratio
  • Are able to buy 2 years from the discharge date of a Chapter 7 Bankruptcy 
  • Are able to buy 3 years from a short sale or foreclosure date
  • Able to use gift funds, checking, saving, 401k, Retirement account, stocks, bonds, IRA and many other approved avenues to obtain the required 3.5% down payment
  • Can use a Down Payment Assistance home loan program as well for the down payment
  • Self employment income is allowed with Schedule C and Schedule E, 1120s
  • Signal Family Residence, 1 to 4 units, Condos, Townhouse, Manufactured and modular homes are lendable 
Not all home loans in Fontana are created equal, FHA loan programs are one of the best purchase programs on the market today. FHA offers many loan programs such as the standard FHA loan as well as speciality loan programs like the FHA 203K Rehab loan, FHA Energy Efficient Mortgage, HUD Section 184 and the Good Neighbor Next Door.

The FHA 203K Rehab home loan program in Fontana is a perfect purchase programs to help those buyers make offers on properties that may require updated to the house such as, remodel the bathrooms, kitchen or bedrooms. 

FHA's Energy Efficient Mortgage program (EEM) in Fontana helps families save money on their utility bills by enabling them to finance energy efficient improvements with  their FHA-insured mortgage. The EEM program recognizes that an energy-efficient home will have lower operating costs, making it more affordable for the homeowners.  Cost-effective energy improvements can lower utility bills and make more income available for the mortgage payment.

The HUD Section 184 Indian Home Loan Guarantee Program in Fontana is a home mortgage product specifically designed for American Indian and Alaska Native families, Alaska villages, tribes, or tribally designated housing entities. Congress established this program in 1992 to facilitate homeownership and increase access to capital in Native American Communities.

The FHA Good Neighbor Next Door program in Fontana are for Law enforcement officers, pre-Kindergarten through 12th grade teachers, firefighters and emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.

FHA Streamline refinance home loan in Fontana are for borrowers who have made at least six consecutive monthly payments on their current FHA loan that is being refinanced, beginning with the payment made on the first payment due date, and the first payment due date of the refinance loan must occur no earlier than 210 days after the first payment due date of the loan being refinanced. 

The FHA home loan program is like a utility knife with purchase and refinance programs. Explore your options when purchasing a home in the Fontana CA on the FHA loan program with all the benefits that FHA has to offer.

I welcome the opportunity to assist you with your goals of buying a house in Fontana CA using the FHA home loan program. We can present you with loan options that will fit within your monthly mortgage budget.

Call or text me at 909-503-5600 or email me at Nathan@NathanRufty.com I look forward in hearing or meeting with you.


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