FHA Loan
An FHA loan is a government-backed mortgage aimed at facilitating homeownership by offering low down payment options (as low as 3.5%) and more lenient credit requirements. Insured by the Federal Housing Administration, it helps individuals, particularly first-time buyers, who may face financial constraints to purchase a home.
Benefits of an FHA loan
- Low downpayment On an FHA loan, you can access financing for your home with as little as 3.5% down
- Leniency with credit history While most other loan types will require a minimum credit score of 620, you can qualify for an FHA loan with a lower credit score
- Better interest rates FHA loans can typically offer better fixed interest rates than most other loan types
- Flexible debt to income (DTI) FHA mortgages give borrowers more leniency with their DTI
Recommended Resources
Access Mortgage Group works with select vendors in the real estate industry. These are realtors, real estate agencies, title companies, home inspection, home insurane and other industry related agencies we have worked with and trust.
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Buying a home is an emotional journey. Access Mortgage Group is about building relationships and completely understanding where you are coming from to help achieve your home purchase goals.
Contact
Address
2300 Sylvan Avenue, Modesto CA 95355
Phone
(209) 996-9264
Licensing
NMLS 193629
DRE Corp #01427613
NMLS 2289265
DRE Corp #02172716
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