FHA Loans
Federal Housing Administration (FHA) loans are a popular option for home buyers, particularly first-time buyers, who may not have a large down payment or a high credit score. FHA loans are insured by the government, which means lenders are more willing to offer these loans to borrowers who may not qualify for a conventional mortgage.
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FHA loans typically require a down payment of just 3.5% of the purchase price, making it easier for buyers to get into a home. In addition, FHA loans have more flexible credit requirements than conventional loans, allowing borrowers with less-than-perfect credit to still qualify. These factors make FHA loans an attractive option for many home buyers looking to achieve their dream of homeownership.
Some Key FHA Characteristics
1) Low down payment requirement of just 3.5% of the purchase price
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2) More flexible credit requirements compared to conventional loans
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3) FHA loans are backed by the government, which makes lenders more willing to approve borrowers who may not qualify for a conventional mortgage
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4) FHA loans have fixed interest rates, which can provide stability and predictability in monthly mortgage payments
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5) FHA loans allow for higher debt-to-income ratios, which can help borrowers with higher levels of debt qualify for a mortgage
6) FHA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums
7) FHA loans offer options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.
5) FHA loans allow for higher debt-to-income ratios, which can help borrowers with higher levels of debt qualify for a mortgage
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6) FHA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums
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7) FHA loans offer options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.
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"David is incredibly knowledgeable and passionate about his work. Every question I ask him is answered promptly and thoroughly. When necessary, he’s direct and forthright. He’s also kind and empathetic. His skills and qualities add up to a Mortgage Advisor that you WANT on your side."
- Kevin M.
"David is one of the most competent and sincere mortgage lenders I’ve had the opportunity to work with. He’s the epitome of excellence, driven by his passion to serve others."
- Steve D.
“David and his team were amazing to work with. We had a very challenging situation and they were there with us every step of the way until we closed on our home.”
- Richard M.C.
"David is incredibly knowledgeable and passionate about his work. Every question I ask him is answered promptly and thoroughly. When necessary, he’s direct and forthright. He’s also kind and empathetic. His skills and qualities add up to a Mortgage Advisor that you WANT on your side."
- Kevin M.
"David is one of the most competent and sincere mortgage lenders I’ve had the opportunity to work with. He’s the epitome of excellence, driven by his passion to serve others."
- Steve D.
“David and his team were amazing to work with. We had a very challenging situation and they were there with us every step of the way until we closed on our home.”
- Richard M.C.
"David has a high level of integrity & cares deeply for each of his clients. I highly recommend using his expertise in getting you the absolute best mortgage for your money. Do not throw away money to a landlord. Don't let the economy take away your ability to buy a home in this economy. Better to invest in your property that someone else's property!"
Bob D.
“David is patient, engaged, and so knowledgeable! We went through a long home-buying process, changing our minds often about what we wanted. David was with us every step of the way, going above and beyond to answer all of our questions and really helping us understand the daunting mortgage process. I have full confidence that David got us the best rate possible and will continue to keep us updated on when we should refinance down the line. I'm grateful to know that he is here as a guide for us for whatever the future may bring!”
Hannah F.
I am grateful to have had the opportunity to meet and work with David on several occasions. I immediately recognized David’s unparalleled product knowledge surpassed only by his genuine compassion and commitment to his client’s short term needs and long term financial well-being. David’s fierce commitment to excellence combined with an approachable, affable countenance make David the perfect client advocate and coach. I am blessed to call him a friend and professional partner. Anyone who has the goodluck of working with him will learn what I know - he’s the best!
Steve F.
"David has a high level of integrity & cares deeply for each of his clients. I highly recommend using his expertise in getting you the absolute best mortgage for your money. Do not throw away money to a landlord. Don't let the economy take away your ability to buy a home in this economy. Better to invest in your property that someone else's property!"
Bob D.
“David is patient, engaged, and so knowledgeable! We went through a long home-buying process, changing our minds often about what we wanted. David was with us every step of the way, going above and beyond to answer all of our questions and really helping us understand the daunting mortgage process. I have full confidence that David got us the best rate possible and will continue to keep us updated on when we should refinance down the line. I'm grateful to know that he is here as a guide for us for whatever the future may bring!”
Hannah F.
I am grateful to have had the opportunity to meet and work with David on several occasions. I immediately recognized David’s unparalleled product knowledge surpassed only by his genuine compassion and commitment to his client’s short term needs and long term financial well-being. David’s fierce commitment to excellence combined with an approachable, affable countenance make David the perfect client advocate and coach. I am blessed to call him a friend and professional partner. Anyone who has the goodluck of working with him will learn what I know - he’s the best!
Steve F.
Copyright ©2021 | The Infinite Team
Licensed to Do Business | NMLS# 328679
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | NEXA Mortgage
Corporate | NMLS ID NMLS# 1660690
Corporate Address : 3100 W Ray Road #201 Office #209 Chandler, AZ 85226
Copyright ©2021 | The Infinite Team | NMLS# 328679
Licensed to do business in.. MN, WI, IA, ND
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply
Corporate | NMLS ID NMLS# 1660690
Corporate Address : 3100 W Ray Road #201 Office #209 Chandler, AZ 85226
https://nexamortgage.com