An FHA loan is a mortgage that is insured by the Federal Housing Administration (FHA). The FHA program was created in response to the increase in foreclosures and defaults during the 1930s. The FHA program provides approved mortgage lenders with adequate insurance and helps stimulate the housing market by making loans accessible and affordable for people with less than perfect credit or lower down payment. The federal government reduces risk to the lender in the event a borrower defaults on their mortgage payments.
FHA loans are very popular today especially with first-time home buyers because the requirements are less strict than conventional loans. Approved applicants can borrow as much as 96.5% financing with the FHA loan program.
Coast2Coast is here to educate you
Regardless of your mortgage knowledge, Coast 2 Coast Lending will be more than happy to assist you. We take the time to answer all your questions and educated you on the advantages of first time home buyers, 100% Down, No Money Down, Plus Closing Costs programs. If you are looking for information on government loan programs, you have found the right place. Buyers can read more about FHA Loan Benefits here.
Questions about qualifying or applying for a loan?
We have loan specialist standing by 7 days a week to help you, please submit the Quick Contact form (top of your page) to expedite your request quickly or call ph: 904-810-2293.
Already have an FHA mortgage and want to learn about refinancing options? If you want to learn more about our refinance program, please fill out the Quick Contact form at the top of your page. Interest rates are low in 2016, and the FHA streamline refinance program could make it possible to drastically lower your monthly mortgage payments.
Benefits of an FHA Home Mortgage?
✔ Lower credit requirements, income verification, employee verification, and underwriting fees
✔ Very little paperwork
✔ Easily increase or decrease the length of the term of your existing loan
✔ low fix interest rates
✔ Free 24 Hour Approval
Benefits of FHA Loans: Low down payments and less strict credit score requirements. Please note the program does require a min 600 credit score for loan approval. Typically an FHA loan is one of the easiest types of mortgage loans to get because it requires a low down payment and has forgiving credit requirements. For FHA loans, a down payment of 3.5 percent is all that’s required. In addition, the home buyers down payment can be gifted to them by family or eligible down payment assistance programs. Anyone who cannot afford a 20 percent down payment, has a lower credit score, or can not get approval for private mortgage insurance should look into an FHA loan.
Have Questions? Just submit the Quick Request form on this page.
Serving all buyers including First Time Buyers in FLA, GA, ALA, TN, NC, VA
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