FHA HOME LOANS

WE HAVE A MORTGAGE SOLUTION FOR YOUR UNIQUE SITUATION

 

WITH AN FHA LOAN, HOMEOWNERSHIP IS CLOSER THAN YOU THINK.

FHA Home Loans are mortgages that are issued by federally qualified lenders. The U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development (HUD), insures FHA loans. FHA loans have been helping people become homeowners since 1934.

FHA home loans are an attractive option for many borrowers, not just first-time homeowners.

Benefits of FHA Home Loans

  • Generally easier to qualify for than conventional loans.
  • Low down payment requirements.
  • Fixed and adjustable rate mortgages.

 

IS AN FHA HOME LOAN RIGHT FOR YOU?

Low Down Payment Requirements

Many borrowers are able to qualify for FHA home loans with as little as 3.5% down.

Flexible Down Payment Options

Some borrowers may be able to qualify for an FHA home loan using gifted down payment funds. A relative or approved organization may be able to qualify as a source of gifted funds.

Options for Buyers with Imperfect Credit

If you’ve had a recent bankruptcy or foreclosure, you may still be able to qualify for an FHA loan.

FHA Home Loans Image shows the roof line of a green home with a bright blue clear sky in the background. The roof line shows 2 windows of the home.

FHA MORTGAGE FACTS:

  • Can be used to purchase 1 to 4-unit properties.
  • Loan limits start at $498,257 for a single-family home and go up to $958,350 for a 4-unit property.*
  • Homebuyers with credit scores above 580 may qualify with as little as 3.5% down.
  • Homebuyers with credit scores between 500 and 579 may qualify with 10% down.
  • Homebuyers who do not have a credit score may qualify with additional requirements.
  • FHA loans can be used on HUD-approved Condos and manufactured homes, with additional requirements.
  • While FHA home loans are a great solution for many first-time home buyers, anyone can take advantage of an FHA loan.

*2024 FHA loan limits

Ready to take the first steps toward homeownership? Want to see if FHA is the best solution for you?

Contact us and start the process today! We’ll review your loan application and let you know what loan program is going to offer you the most benefits for your scenario.

KTL Performance Mortage provides home loans in Ohio, Indiana, Kentucky, and Florida. We are here to help you achieve your dreams of homeownership.

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