with VRM Lending LLC
FHA loans provide very strong options for purchases. You can qualify with an extremely low down payment and less than perfect credit.
When you hear all of these commercials about low-interest rates, chances are, they are referring to the FHA loan. You may be able to take advantage of our competitive rates. Call us or see if you can get pre-approved online today. Not all lenders offer the same interest rate or costs on a loan. Let’s talk about how we may be able to help make this type of loan a reality for you and your family. If you qualify, you may be able to be in your new loan in just a couple of weeks. The process is hassle-free and we will take exceptional care of you.
Call us or complete our pre-approval form today to get started.
FHA Loans Features
Here's what you can expect from the FHA loan:
- Credit score requirements are lower compared to other loans.
- You may still be able to qualify for an FHA loan if you’ve had a bankruptcy or other financial issues in the past.
- They’re available with fixed or adjustable rates and for 30- or 15-year terms.
- They have low down payment requirements. You can put down as little as 3.5%
FHA PROPERTY REQUIREMENTS:
- The loan can’t exceed the loan amount limits in your area. Look up the loan limits in your area.
- The home must meet the FHA’s minimum property standards:
- Safety – the home shouldn’t affect the health and safety of the people who live there.
- Security – the property needs to be secure.
- Soundness – the home shouldn’t have defects that affect its structural integrity.
- When buying a home, you’ll need to move in within 60 days of closing.
- It must be your primary residence. Investment properties and second homes don’t qualify for FHA loans.