California FHA Home Mortgages
California FHA Home Mortgages
- Great 1st Time Home Buyer
- 3.5% Down Payment
- Lower Rates / Easier Qualifying
- Low Credit Scores / Alt Credit OK
- Down Payment Assistance
- Gifts Allowed
- Higher Debt to Income Allowed
- Co -Borrowers Allowed
- Streamline Refinance Available
MORE ABOUT CALIFORNIA FHA LOANS
FHA is an abbreviation for the Federal Housing Administration. Congress created the FHA in 1934 to make it easier for home buyers to get home loans. They do this by insuring mortgages for single family and multifamily homes. FHA mortgage insurance provides lenders with protection against a loss if a FHA homeowner defaults on a loan. Loans must meet requirements established by the FHA to qualify for this insurance. FHA and HUD have insured over 34 million homes since 1934. They are the largest insurer of mortgages in the world. Call today or apply online!
Are you a US Veteran? A California VA Home Loan might be right for you.
FHA Loans if your home is a higher loan amount then a California Jumbo Loan might be your best option
Apply for Your FHA Home Loan Today!
What are California FHA Home Loan Requirements?
In order to ensure that you meet the minimum FHA home loan requirements for California, you need to consider the following factors.
*Are you over the age of 18?
*Do you have a valid Social Security number and lawful residency in the United States?
*Do you have a steady employment history? If not, have you at least worked for the same employer for the past two years?
*Can you afford the minimum down payment of 3.5% or 10% (depending on credit score)?Do you have a credit score above 580?
*Have you been out of bankruptcy for at least the past two years? (If the answer is no, there may still be exceptions that can be made on a case-by-case basis).
*Will this home be your primary residence?
You’ll need to be able to answer all of these questions with a ‘YES’ in order to meet FHA home loan requirements.