FHA Loans

WHAT IS FHA FINANCING?

FHA mortgages are insured by the Federal Housing Administration (FHA). They are issued by federally qualified lenders and are designed to help borrowers with high debt-to-income ratios (DTI) purchase or refinance their homes. If you default on this loan, the FHA will cover your lender’s losses, therefore mortgage insurance is required.

PERFECT FOR:

Low-to-moderate income borrowers with credit scores as low as 580.
Borrowers who can only afford a 3.500% down payment.
Borrowers who need the complete down payment to be a gift from a relative.
Refinancers with a small amount of equity in their home.

Owning a home is a keystone of wealth, both financial affluence and emotional security.

TYPES OF FHA FINANCING

Fixed-rate: You’ll have the same interest rate and monthly payment for the entire repayment term, even long-term financing options such as a 30-year loan.

Adjustable-rate (ARMs): You’ll start off with a lower interest rate than the fixed-rate loan, but it will be adjusted from time to time, causing monthly payments and interest to change over time.

BENEFITS OF FHA FINANCING

Low Down Payments and Less Strict Credit Score Requirements. Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit.

READY TO MOVE FORWARD?

Begin your home loan process today! Our mortgage advisors are standing by. Have questions? Give us a call! One of our specialists will be happy to answer all of your questions and get you started with a great low rate today!

LET'S GET STARTED!

WHAT OUR CUSTOMERS ARE SAYING

We just closed today and I can’t say enough good things about Sedemil Mortgage, they guided us through everything and made the process painless and efficient. They were there every step of the way to answer all my questions.

L. Sanchez
This is the second mortgage Sedemil Mortgage has helped my family with. For the next one, there is absolutely no doubt who we will use. They do everything they promised, keeping us up to date with the process. Definitely recommended!

A. Silva
Thank you for making our home buying experience smooth and painless! We are so grateful for your support, attention to detail and level of professionalism as we learned the ropes of being a first time home buyer. We look forward to working with you on our next purchase!

M. Medina