California Home Loans
Housing Administration was established to encourage home ownership
throughout the country with the belief that home ownership increases
the stability of a community. Prior to the creation of the FHA,
large down payments were required to secure a mortgage loan. At
present, a minimum of 3% investment is required by the borrower
for the purchase of a home. As an incentive to investors who purchase
loans, FHA insures the loan against default, should the borrower
fail to repay. FHA guidelines also allow for greater flexibility
with regards to credit history and qualifying ratios.
Home Loans program opens up opportunities that conventional mortgages
do not offer:
Down Payment and Closing Costs
payment less than 3% of Sales Price
Financing options available*
for down payment and closing costs allowed.
reserves or required.
regulated closing costs.
can credit up to 6% of sales price towards buyers costs.
Easier Credit Qualifying Guidelines such as:
minimum FACE score or credit score requirement.
will allow a home purchase two years after a Bankruptcy.
will allow a home purchase three years after a Foreclosure.
Easier Debt Ratio & Job Requirement Guidelines such
Debt Ratio's than other home loan programs.
than two years on the job is allowed.
of the FHA California Home Loans has made it one of the best
options for most first time home buyers as well as move-up home
You do not
have to be a first time buyer to obtain a FHA loan, anyone may
use a FHA loan as long as you do not have more than one FHA
insured loan at any one time.
for your interest in California FHA Home Loans.