FHA Mortgage

If you have credit challenges, especially if you have been through a foreclosure or bankruptcy, an FHA loan is the right choice for you. These loans have higher debt ratio allowances which is great who have steady income but have outstanding debt. These loans are insured by the Federal Housing Administration which allows lenders like us to offer loans with downpayments as low as 3.5% of the purchase price. These less restrictive guidelines allow homeowners who do not qualify for conventional loans to refinance and consolidate their debts into a low, fixed rate loan.