FHA Loans

Federal Housing Administration (FHA) loans are a popular option for home buyers, particularly first-time buyers, who may not have a large down payment or a high credit score. FHA loans are insured by the government, which means lenders are more willing to offer these loans to borrowers who may not qualify for a conventional mortgage.

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FHA loans typically require a down payment of just 3.5% of the purchase price, making it easier for buyers to get into a home. In addition, FHA loans have more flexible credit requirements than conventional loans, allowing borrowers with less-than-perfect credit to still qualify. These factors make FHA loans an attractive option for many home buyers looking to achieve their dream of homeownership.

Some Key FHA Characteristics

1) Low down payment requirement of just 3.5% of the purchase price

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2) More flexible credit requirements compared to conventional loans

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3) FHA loans are backed by the government, which makes lenders more willing to approve borrowers who may not qualify for a conventional mortgage

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4) FHA loans have fixed interest rates, which can provide stability and predictability in monthly mortgage payments

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5) FHA loans allow for higher debt-to-income ratios, which can help borrowers with higher levels of debt qualify for a mortgage

6) FHA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums

7) FHA loans offer options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.

5) FHA loans allow for higher debt-to-income ratios, which can help borrowers with higher levels of debt qualify for a mortgage

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6) FHA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums

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7) FHA loans offer options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.

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I was a clueless first time home buyer who asked a lot of questions and Eric was great all the way through. I had no idea what I was doing but Eric walked me through the process to make it as smooth as possible. When it came time to figure out what type of loan and amounts to put down, Eric walked me through every scenario and showed me the financial impact of every decision. He really worked hard around my busy schedule to ensure I got the best deal out there. I don't think I'd be in my home without guidance and help!

Donald M.

Eric dahlberg was very professional all the way from the beginning to the end. The loan process was explained in details step by step. We (my wife and I) Were first time buyers and had so many questions in the process but eric took care of us very well! We ...

Christian P.

Eric was amazing to work with. He was always available and got everything way more quickly than I expected. I'm extremely satisfied with how my mortgage turned out and he easy he made the process to complete. He was always ready to answer my questions.

Rich H.

Eric helped us throughout the buying process. My wife and I were buying our first home and in a situation where we needed to move quickly due to a renting situation the involved our landlord needing to sale the home we were living in.

Endres Family

Eric was very kind and patient with us. He was very prompt getting back to us with questions, numbers, and pre-approval letters. He tried to get the best deals for us and when he couldn't beat or match another lender.

Vance B.

Eric was absolutely great! He answered all my questions thoroughly and promptly. He was very kind and generous which made me feel a lot better about the process ! He is very knowledgable and would recommend him over anyone ! :)

Zuser.

Copyright ©2021 | The Dahloan Team

Licensed to Do Business | NMLS# 830780


This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | NEXA Mortgage


Corporate | NMLS ID NMLS# 1660690

Corporate Address : 3100 W Ray Road #201 Office #209 Chandler, AZ 85226

Corporate NMLS NMLS# 1660690 | Company Website: https://nexamortgage.com

Copyright ©2021 | The Dahloan Team | NMLS# 830780

Licensed to do business in..

This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply

Corporate | NMLS ID NMLS# 1660690

Corporate Address : 3100 W Ray Road #201 Office #209 Chandler, AZ 85226

https://nexamortgage.com