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FHA 3.5% Down payment & 203K
Home Renovation Loans:
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FHA Mortgage Loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development (HUD). ​FHA loans are an attractive option, especially for first time homeowners with a limited down payment, little to no traditional credit history etc.
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- Generally are easier to qualify than a conventional mortgage
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- Min Credit score is 580
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- Streamline Documentation for no cash out refinance mortgages
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- Automated Underwriting Approval (AUS) allowing higher ratios (up to 47/57%)
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-203K Home Renovation Options allow you to finance home repairs
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