FHA LOANS
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Loans Offered | Interest Rate |
|---|---|
| Commercial Loans | Please Call |
| Jumbo Loans | Please Call |
| 30-Year Fixed Rate | 2.5% |
| 20-Year Fixed Rate | 2.375% |
| 15-Year Fixed Rate | 1.99% |
| 10-Year Fixed Rate | 1.875% |
| 7/1 ARM Rate | 2.5% |
| 5/1 ARM Rate | 2.375% |
| 30-Year FHA Rate | 2.5% |
FHA Loans in California
An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay.
FHA loans allow people to buy a home with a down payment as small as 3.5%. Other loans might not allow such a low down payment.
Bad/Poor Credit
Individuals who apply qualify based on their personal cash flow. We approve poor or bad credit applicants!
Residence
Individuals qualify based on if their loan is used for a primary residence
Appraised
Applicants qualify based on if the property is appraised by an FHA-approved appraiser and meets HUD property guidelines.
Alternative Incomes
Applicants can qualify based on income. Income is verifiable through pay stubs, federal tax returns and bank statements.
FHA LOAN REQUIREMENTS
A credit score of at least 580 for a 3.5% down payment.
Mortgage Insurance is required.
Debt-to-Income Ratio of at least 55%.
The home must be the borrower's primary residence and cannot be used for a secondary home or rental.
The borrower must have a steady income and proof of employment at the ready.
Testimonials
We Have Helped Hundreds of Applicants Qualify for Home Loans
WHO CAN GET AN FHA LOAN?
Almost anybody can get an FHA loan, however, FHA loans are not for everybody. Nevertheless, they are a great help to some borrowers. Although there are no income limits, there are limits on how much you can borrow. In general, you’re limited to median home prices in your area. To find the limits in your region, visit HUD’s Website.
To qualify for an FHA mortgage loan, you’ll need to have reasonable debt-to-income ratios. You don’t need perfect credit but you will need to have a credit score of at least 620.
Need More Information?
Contact Amerifund Corporation to learn more about Self-Employed Mortgage Loans
WE'RE HERE FOR YOU
We take pride in providing you with excellent service and appreciate the opportunity to assist you with all your real estate and mortgage needs.
LICENSE
NMLS# 399264
CalBRE# 01448128
CONTACT INFO
Orange County Office
(714) 500-5001
info@amerifundcorporations.com
17155 Newhope St. Suite H
Fountain Valley, CA 92708