Federal Housing Administration (FHA)

Programs and Features:

• Fixed Rate Loans, Temporary Buy-Downs, and ARMS
• Available for detached 1 to 4 unit dwellings, eligible condos, and PUD’s
• Properties must meet HUD guidelines and be inspected by HUD-approved appraisers
• Subject to loan limits set by HUD (see HUD website for loan limits)
• Mortgage insurance premium paid monthly
• One time mortgage insurance premium also charged, which may be financed.
• Non-occupant co-borrowers allowed
• 100% of down payment and closing costs may be a “gift”
• Fully assumable by a qualified borrower
• Seller may contribute a maximum of 6 percent of the lower of the sales price or the appraised value

Ask one of our qualified loan officers if your property qualifies for an FHA loan today!