Residential FHA Loans
What are FHA Loans?
An FHA-insured loan is a mortgage loan backed by the US Federal Housing Administration and supplied by an FHA licensed lender. Lenders are protected by FHA mortgage insurance.
What benefits can I get from FHA Loans?
Some of the primary advantages of an FHA loan include the ability to qualify with a credit score as low as 500, a DTI ratio of more than 50%, the ability to add a co-income borrower to get approved even if the co-borrower will not reside in the home, and a low down payment.
A few reasons an FHA loan would be a good choice
- The FHA requires a small down payment (as low as 3.5 percent of the purchase price).
- The annual premiums for FHA insurance have recently been decreased.
- The FHA was created to make homeownership a possibility for everyone.
- Bankruptcy or foreclosure does not preclude you from obtaining an FHA loan.
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Highly likely to recommend
Sandra and Fernando
Sold a Mobile / Manufactured home in 2015 in Bakersfield, CA.
I would highly recommend Aldo for purchasing a home.
Arik
Bought a Single Family home in 2015 in Porterville, CA.
Great service!
-Luis Solis
Highly likely to recommend
“I have worked with Mr. Gutierrez on several occasions, he is very professional and knowledgeable in his field. I would recommend him to any and all of my friends and family, its nice working with you Aldo. Will be doing more business with you in the future.”
-Luis Sand
Bought a Single Family home in 2013 in Porterville, CA.
Aldo is great!!!
-Eddie Alvarado
I would highly recommend him
“Overall professional and has knowledgeable experience in what he does. Aldo and his team were very friendly and helpful to me and my family; when we were in the process of buying a home. I would highly recommend him to anyone that is seeking to buy.”
Melissa Perez Reyes
Bought a Single Family home in 2015 in Porterville, CA.
Can I pay off my FHA Loan early?
Yes. You have the option of paying off your FHA loan early. Prepayment penalties are not charged on FHA loans, unlike many standard mortgages.
FHA loans, which are government-backed mortgages, are intended for borrowers with low to moderate incomes. Many traditional loans need higher minimum down payments and credit scores. FHA loan rules state that borrowers cannot be charged any superfluous fees, such as a due-on-sale clause or a prepayment penalty, that could put them in financial trouble.
An FHA loan is easier to qualify for than a conventional loan, which is a loan that is not insured or guaranteed by the government. FHA loans allow for lower credit ratings and, in some situations, lower monthly mortgage insurance payments than conventional loans.
One of the most significant advantages of FHA loans is that the interest rate imposed on the loan is the same regardless of your credit score.
Since 2001 we have helped people with their home loan needs. We have the best wholesaler in the country.
Highly likely to recommend
Sandra and Fernando
Sold a Mobile / Manufactured home in 2015 in Bakersfield, CA.
I would highly recommend Aldo for purchasing a home.
“Prior to meeting Aldo, my credit was in bad shape. He gave me the advice to fix my credit that would ultimately help me get funded for a loan as well as find the perfect home for my children and myself..”
Arik
Bought a Single Family home in 2015 in Porterville, CA.
Great service!
“He did a good job getting me approved for my house! Definitely recommend him!!”
-Luis Solis
Highly likely to recommend
“I have worked with Mr. Gutierrez on several occasions, he is very professional and knowledgeable in his field. I would recommend him to any and all of my friends and family, its nice working with you Aldo. Will be doing more business with you in the future.”
-Luis Sand
Bought a Single Family home in 2013 in Porterville, CA.
Aldo is great!!!
“Let him know what you need and he will work day and night to get you what you need!!! Great guy.”
-Eddie Alvarado
I would highly recommend him
“Overall professional and has knowledgeable experience in what he does. Aldo and his team were very friendly and helpful to me and my family; when we were in the process of buying a home. I would highly recommend him to anyone that is seeking to buy.”
Melissa Perez Reyes
Bought a Single Family home in 2015 in Porterville, CA.
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