900 Bestgate Road, Suite 310 | Annapolis, MD 21401

©2017 JASON NADER - FIRST HOME MORTGAGE CORPORATION

*This is not a commitment to lend. Terms and conditions of programs, products and services are subject to change. All loans are subject to credit approval and property appraisal. Certain restrictions may apply on all programs.

 

First Home Mortgage Corporation of America, First Home Mortgage Services, and First Home Mortgage Company of Maryland are d/b/a's of First Home Mortgage Corporation. First Home Mortgage Corporation is licensed in Connecticut, Delaware, District of Columbia, Florida, Georgia Residential Mortgage Licensee (Lic. #23135), Indiana, Kentucky, Maine, Maryland, Massachusetts Mortgage Lender and Broker (Lic. #MC71603), Michigan, New Hampshire, Licensed by the New Jersey Department of Banking and Insurance, North Carolina, Pennsylvania, Rhode Island Licensed Lender and Broker, South Carolina, Tennessee, Vermont, Virginia, West Virginia. Equal Housing Lender. First Home Mortgage Corporation NMLS ID #71603 (www.nmlsconsumeraccess.org). Privacy Policy

 

FHA LOAN

WHAT IS AN FHA LOAN?

An FHA home loan is a mortgage insured by the Federal Housing Administration. FHA loans reduce the barrier to entry for homebuyers and refinancers by featuring low down payments, flexible credit requirements and more purchase power. If funds are limited, an FHA mortgage can help you finance more than 80% of your home value. Benefits include:

  • 3.5% down payment option for qualified borrowers.

  • Minimum 580 or higher FICO score.

  • More flexible underwriting qualifications than conventional loans.

  • No maximum income restrictions.

  • Fixed and ARM conforming loan options up to the county limit.

  • Seller assistance with up to 6% of closing costs.

  • 203k renovation loans with a minimum 620 FICO score.

 

With an FHA loan, you can use borrowed money and other gifts from family members to cover down payments and closing costs. And don’t worry about prepayment penalties! An FHA loan lets you refinance or pay off your home early without having to deal with extra fees or other sticking points.

IS AN FHA LOAN RIGHT FOR YOU?

From first-time homebuyers to lower-income families, FHA home loans can benefit all types of customers. Not sure if your current finances or credit rating will let you qualify for a mortgage? A secure government-insured loan could be right for you!