FHA Loans 2017-07-10T17:35:41+00:00

Get into your new home faster with an FHA loan.

Owning your own home can be a great first step toward building financial security — but many first-time homebuyers struggle with the stringent requirements of standard home mortgages. If you want to buy a new home but can’t afford a large down payment, you could be approved for an FHA loan, with a down payment as low as 3.5% of the purchase price. You can also refinance your existing home loan with FHA loan refinancing, for a lower interest rate.

What are FHA loans?

FHA loans are government-insured loans regulated by the Federal Housing Administration. They have more flexible credit guidelines and lower down payments than standard home mortgages, making it easier for more people to qualify.

Mortgages USA is an approved FHA lender.

Our FHA Express Loan is one of our most popular home mortgage loans. Our experienced loan officers have the knowledge and expertise to answer any questions you may have about FHA loans. We will walk you through the approval process, and ensure your FHA loan closes as quickly as possible.

Not all FHA loans are created equal.

Interest rates, mortgage payments and speed of processing for FHA loans can vary depending on the lender you choose. At Mortgages USA, we offer competitive rates and close faster than many other lenders. We also use proprietary technology in processing our mortgage applications, with electronic signing for some documents and advanced features that help cut the headaches out of getting an FHA loan.

Find out what interest rates are available to you with a standard mortgage loan.

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FHA Loan Benefits for Homebuyers

Down Payments as Low as 3.5%

Standard home mortgages require buyers to make down payments of 5% to 20% of the home’s purchase price. In contrast, FHA Loans are available with down payments as low as 3.5% of the purchase price.

Potential to Save on Closing Costs

The cost of buying a home includes more than the home’s purchase price. Buyers must also pay for closing costs like loan processing fees, title insurance, origination fees, and more. With an FHA loan, you can ask the seller to pay some of these costs on your behalf through stipulations in your loan called seller concessions. FHA loans allow seller concessions for up to 6% of your home’s purchase price.

Loans for Borrowers with Less-than-Perfect Credit

Have credit problems? You may still qualify. Generally, the higher your credit score, the lower down payment you will be able to make. With FHA loans, you need a credit score of 580 or higher to qualify for a 3.5% down payment.

Available 1-year, 1% Mortgage Rate Reduction

At Mortgages USA, we’re committed to making it easier for you to buy the home you want — and that includes lowering your mortgage payment. Ask your Mortgages USA loan officer about a 1-year, 1% mortgage rate reduction.

FHA Loan Refinancing

Lower Interest Rate

Want to lower the interest rates on your loan? Find out how much you can save with Mortgages USA’s FHA Loan Refinancing products. You can refinance up to 97.75% of your home’s value with FHA loan refinancing.

Debt Consolidation

If you’re paying high interest rates on credit card debt or other loans, FHA Loan Refinancing can be a smart financial move. A cash-out refinance can be used to consolidate high-interest debt into one loan with a low, fixed rate. FHA cash-out refinance loans allow you to take out up to 85% of your home’s value.*Not available in Texas.

FHA Streamline

If you already have an FHA loan, you could lower your mortgage rate and loan payment with an FHA Streamline. The FHA Streamline offers a limited documentation option, has flexible credit requirements, and may allow you to avoid an appraisal. Call us today at 1-800-600-MUSA to see if you qualify for an FHA Streamline to refinance your FHA loan.

Do you qualify for an FHA loan or FHA refinance?

Our clients love the low fixed rates and security of government-insured FHA loans. To find out if an FHA loan is right for you, call 1-800-600-MUSA or apply now

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