FHA Loan Officer

FHA streamline rates | FHA loan limits

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A Choice FHA Loan Officer, can assist with your FHA financing. You can buy your home with as little as 3.5% for your down payment. If you already have an FHA loan, you can do what's called a streamline refinance, a very simplified & low cost process used primarily when you are not getting cash-out of your property. We have options available where we can pay all of your closing costs.

Who is FHA for? Everyone. FHA has long been thought of as type of mortgage for first-time home buyers, or those with less than perfect credit. FHA is actually for owner occupants and their primary residence. While this still holds true, FHA mortgages are still one of the best options in the market for purchases, cash-out refinances and even jumbo sized loan amounts. If you already have an FHA loan, you may want to look into streamlining your FHA mortgage.

General Credit Guidelines allow for 620 minimum credit score and is preferred by most lenders. Programs with lower scores are available on a case by case basis.

-- FHA First time homebuyer | FHA purchases
-- FHA Jumbo mortgages | FHA high balance loans
-- FHA Cash-out refinance
-- FHA Streamline refinance





FHA First time homebuyer purchase | FHA purchase mortgage

  • 3.5% down payment requirement. Down payment can come in form of gift from an immediate relative
  • Up to 6% seller paid closing costs allowed.
  • Low fixed interest rates. 5/1 FHA ARM’s are also available



FHA Jumbo mortgages | FHA high balance loans

  • Loan amounts up to $729,750 in high cost areas
  • Loan to Value (LTV) ratios up to 96.5% on purchases | 97.75% on rate and term refinances | 85% for cash-out refinances (this is 20% higher than Fannie Mae Jumbo mortgages)
  • FHA jumbo mortgage rates are often better than traditional jumbo mortgage rates
  • Much more lenient guidelines than Fannie Mae or Freddie Mac Jumbo home loans

FHA Jumbo limits



FHA Cash out refinances

  • Up to 85% LTV allowed
  • No change to interest rate for cash out



FHA streamline refinances*

  • No appraisal required
  • No income verification
  • No asset verification
  • If you have made your current FHA mortgage payments on time for the past 12 months and have a credit score of 620, you qualify!

*FHA made significant guideline changes on November 18th, 2009. Due to the guideline changes, it is much more difficult to obtain an FHA streamline refinance with no out of pocket cost. It is imperative that you work with an FHA loan officer that knows the ins and outs of these new guidelines. They will provide the most cost effective plan for your FHA streamline transaction





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