Low Down Payment
Minimum down 3.5%
First-time home buyer
FHA is an excellent option for a first-time home buyer; however, you do not need to be a first-time home buyer to be eligible for a California FHA loan. FHA loans are available to anyone and can be used to purchase or refinance a home.
The main advantage of a California FHA loan is that the credit criteria is not as strict as the credit criteria for a conventional loan, which is sold to Fannie Mae and Freddie Mac. Another perk of FHA loan is that they allow a higher debt-to-income ratio than conventional loans, meaning they may require less income to qualify.
Someone who may have had credit problems or lacks traditional credit can still obtain FHA financing.
If you don’t have a credit score, email us today to see if you are eligible for non-traditional credit qualifying.
California FHA loans are assumable, allowing a person to take over the mortgage without the additional costs of obtaining a new loan.
Lender is neither acting on behalf of, nor at the discretion of, the FHA or Federal Government.