FHA Loan Programs - California FHA Mortgage Loan Lender

An FHA loan allows you to buy a house with as little as 3% down. The FHA loan is a great way for first time home buyers, or anyone with a shortage of down payment funds, to buy a home. Of Course to qualify for a FHA home loan, you'll need a good credit history and sufficient income.

Types Of FHA Loan Available:

• HUD Homes - Properties for Sale and Financed by FHA

• Officer Next Door - 50% Discounted properties and financing for police officers.

• Teacher Next Door - 50% discounted properties and financing for teachers.

• CHDAP - 100% financing using second mortgage.

• Nehemiah - 100% financing with assistance of home seller.

• HART - up to $15,000 gift funds

• Neighborhood Gold - up to $15,000 gift funds with assistance of home seller

• CHFA Loans Loans (CHAFA) - discounted financing option with income limitations

• Access 2000 - 100% financing with use of second mortgage.

• 203K - FHA major home improvement, rehab loan.

• Home Improvement Title - FHA insured second mortgage up to $25,000

• Cash-Out Refinance Loans - up to 85% of properties value cash-out refinance.

• Single Family Home - standard FHA 203(b) loan.

• Units> Duplex Triplex Fourplex - unit financing

• Fixed Rate FHA Loans - standard FHA fixed rate loan

• HA adjustable rate mortgages (ARM) - standard FHA ARM, Adjustable Rate Mortgage

• FHA Buydown Loans - FHA 1/1 or 2/1 buy down loan.

• Reverse Mortgages - HUD reverse mortgage for seniors over 62.

The FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs. A few points to remember when considering an FHA loan program :

Minimal Down Payment and Closing Costs.

• Down payment less than 3% of Sales Price
• 100% Financing options available*
• Gift for down payment and closing costs allowed.
• No reserves or required.
• FHA regulated closing costs.
• Seller can credit up to 6% of sales price towards buyers costs.

Easier Credit Qualifying Guidelines such as:

• No minimum FICO score or credit score requirements.
• FHA will allow a home purchase two years after a Bankruptcy.
• FHA will allow a home purchase three years after a Foreclosure.