|
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 804.282.8808. 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!
| 
