FHA Home Loans: Providing Simple and Affordable Mortgages
Purchasing a house with little money saved, along with a less-than-perfect credit score, might seem like a pipe dream. Fortunately, you can transform this dream into reality with Primary Residential Mortgage, Inc.’s FHA home loan options
Our FHA loan programs are suitable for first-time homebuyers coming from families with low to moderate income. This means they can buy a home even if they have limited resources. Rely on a trusted FHA loan lender like us to walk you through each step of getting the affordable home you want easily.
3.5% of the final loan amount
10, 15, 20, 25, 30 years, fixed and ARM
Yes, one-time, up-front and monthly
Maximum Loan Limit
Yes, varies by county
* Unless approved by FHA Choice Manual Underwrite Process
How Can You Benefit from FHA Loans?
One of the best mortgages out there is an FHA-insured mortgage. When you take advantage of this type of home loan, you can reap the following benefits:
Better Interest Rates – FHA loans provide borrowers with the same interest rate, which means individuals who have issues with their credit won’t face an interest rate penalty. Additionally, these loans offer credit-challenged homebuyers the opportunity to qualify for rates that they are unable to obtain with other home loans.
Lower Down Payment – Unlike conventional mortgages that typically require between 5 and 10 percent down payment, FHA loans require a down payment of 3.5 percent of the final loan amount. Low down payments encourage people to purchase homes and begin establishing equity sooner.
Less Challenging Credit Requirements – Aspiring homebuyers with little or no credit history will be glad to know that the approval requirements of the FHA are less stringent than the requirements for traditional home loans. Individuals who have a minimum credit score of 640 can qualify for our FHA loan.
As an established mortgage company offering FHA loans, we capitalize on our extensive experience to make home buying easier on your part. Speak with one of our mortgage professionals for more details.
If you're ready to take the next step, work with a team that can provide the personal attention you deserve. Our mortgage company has helped over 200,000 borrowers fulfill their dream of home ownership. We'd love to help you too!