Oceanside Mortgage Company specializes in FHA loans. We are one of the nation’s top FHA lenders. An FHA loan is designed for borrowers who want to put less then 20% down or that have less then perfect credit. You do not need to be a first time home-buyer to get an FHA loan. FHA loan programs are designed with many consumer safeguards which help borrowers get an affordable loan at an affordable price. Interest rates on FHA loans are often lower the comparable conventional mortgage programs.
The FHA (Federal Housing Administration) is a government agency that is a part of the United States Department of Housing and Urban Development. It has been helping homeowners since 1934. The FHA has several programs available to help borrowers:
Purchasing a home – The FHA allows you to buy your home with as little as 3.5% down. The down payment can come from your savings, or it can be a gift from a family member. The program even allows the seller to pay your closing costs.
Refinancing a home – If you are not in an FHA loan currently, you can convert it to an FHA. The FHA allows you to borrower up to 97.75% of your home’s value.
Taking cash out – You can use the FHA to take cash out up to 85% of your home’s value. There is no limit on the amount of cash you receive, and you can use the cash for any reason. The cash can even be used to consolidate your debt.
Streamline Refinance – If you already have an FHA loan, you can Streamline Refinance. This is a special program for FHA loan holders which allows you to lower your interest rate with no appraisal and very little documentation.
If you have any questions about these programs, please contact a loan specialist immediately at 800-955-8965 or via chat.