FHA Loan

FHA mortgage loans are issued by federally qualified lenders certified by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development. Sacramento City Mortgage has been delivering FHA loans for over a decade. Qualifying with FHA can be an easy process. FHA loan programs are more forgiving with past debt or credit issues and also with how much home you can buy with the income you have. In short…you get MORE with FHA! This is why this program is attractive for many first time home buyers. At Sacramento City Mortgage we can help new home buyers with credit scores as low as 580. And if you are below that, we have credit experts on staff to help get you prequalified for the home of your dreams. FHA even has programs to upgrade our new home purhcase with the FHA 203(k) loan. 

Here are some points about FHA:

  • Generally easier to qualify for than conventional loans.
  • Lower down payment requirements.(as little as 3.5% down!)
  • High Balance loan limits are OK (above 417,000)*
  • Cash out refinance up to 85% of value
  • Down Payment Assistance available to cover the 3.5% down
  • Traditionally lower rates than conventional loans
  • Renovate your home purchase with the FHA 203(k) loan

With alll of these benefits FHA becomes a clear choice for both purchase and refinance loans needing cash out. Call us today to talk to an expert!

* Call us for your counties specific loan limits