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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). â€‹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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