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Virginia Mortgage Bankers, LLC
provides FHA mortgage loans to assist homebuyers that have a little down or no
down payment. This program is called the Federal Housing Administration or
FHA Home Loan . FHA mortgage loans are great home loan programs for first
time new home buyers with a small or zero down payment. FHA loans allow
borrowers with
less than perfect credit to receive the same interest rate as a borrower
with clean and unblemished credit. Typically, FHA mortgage loans require 3%
down. If your a veteran, be sure to check out our
VA loans for Veterans.
FHA
mortgage loans
are excellent loan programs because first time
homebuyers
often experience the most difficulty amounting a significant down
payment. FHA mortgage loans were designed for those home buyers with limited and
marginal credit but are only a few of the
first time homebuyer programs that Virginia Mortgage Bankers, LLC offers. First
time homebuyers that have outstanding credit will qualify for our conforming
no money down mortgage loans with no PMI!
FHA - Federal Housing
Administration
Online Mortgage
Application |
FHA Mortgage Information
FHA mortgage highlights:
Low FHA mortgage rates from Virginia Mortgage Bankers!.
Low down payment (less than 3% down in most cases)
Gifted funds accepted for down payment
Seller can contribute up to 6% of sales price
Low mortgage insurance Mortgage Insurance or MIP
Approved condos welcome (no up-front mortgage insurance payment required!)
No minimum credit score requirements
Past bad credit not a problem. FHA underwriting guidelines are more liberal
than those for most mortgages. Past bad credit does not automatically mean you
cant get a low interest mortgage
Even bankruptcy may not interfere with an FHA home loan (if 2 years since
discharge).
FHA mortgage loans are open to all income
levels.
Unlike many federal loan programs,
FHA is not a low-income loan program. If your income puts you above the cut-off
for other federal programs, you may still qualify for an FHA low interest
mortgage. Maximum FHA loan amounts vary by region. Click here to
find the FHA loan limit for your city or county on the FHA website.
Stop paying rent!
FHA Loan Programs:
In addition to the traditional 30-year and 15-year fixed rate FHA mortgage
loans, we have highlighted additional
FHA loan programs. All it takes is one phone call toll
free at 800.961.9121. Or
contact us at Virginia Mortgage
Bankers for an FHA loan quote and we will be happy to discuss all your FHA
mortgage home loan options! Or you can use our quick and easy
online application for FHA home
loans!
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