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FHA Loan

What are FHA loans?

FHA loans are mortgages insured by the Federal Housing Administration (FHA). They are a popular option for first-time homebuyers because of their low down payment requirements and more lenient credit and income qualifications.

Why choose an FHA home loan

  • Low down payment requirements (as low as 3.5% of the purchase price)
  • Flexible credit qualifications, allowing for some past credit issues
  • Lower interest rates compared to some other loan options
  • Available to first-time homebuyers and those with limited savings
  • Available for a wide range of property types, including single-family homes, condos, and manufactured homes
  • No prepayment penalty
  • Can be used for home improvements and energy-efficient upgrades
  • Insured by the federal government, providing added security for lenders

How FHA loans work

  • 30-, 25-, 20- and 15-year terms are all available with fixed rates.
  • 5-year adjustable-rate mortgage available.
  • No Prepayment Penalties
  • Typically, lower rates and less restrictive qualification standards vs Conventional financing. Credit scores as low as 580
  • Buy a Primary Residence with as little as 3.5% down payment. All gift for down-payment acceptable
  • Refinance up to 97.75% of your primary home’s value.
  • Cash-out Refinance up to 85% Loan to Value

  **Cornerstone First Mortgage, Inc. is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA or the Federal Government.

Interested in a FHA Loan?

Contact us! One of our mortgage specialists would be happy to answer all your questions and get you started with a great low rate today!

Let’s get you into your dream home

It’s simple to get started on your mortgage journey – whether you’re just looking to get pre-qualified or are ready to submit an application. Just click the button below or submit a contact form to speak with one of our mortgage experts.

We’re here to help!

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At Cornerstone First Mortgage, LLC. we are dedicated to delivering high-quality customer service and offer an extensive range of home loan programs with competitive rates to deliver a solution that best fits the need of each client.

For Licensing Information go to:
www.nmlsconsumeraccess.org

NMLS ID #173855

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© 2024 Cornerstone First Mortgage, LLC. All Rights Reserved. NMLS ID #173855 Equal Opportunity Lender.

© 2023 Cornerstone First Mortgage, All Rights Reserved. NMLS ID #173855 Equal Opportunity Lender.