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FHA LOAN INFORMATION

   FHA mortgage loans are becoming more popular today because of changes in Conventional mortgage insurance programs and FNMA Credit score adjustments.You can no longer obtain 100% financing for conventional loan programs.FNMA has added price adjustments for borrowers with credit scores less than 720.

   All of these changes have made FHA loans a great option for purchasing or refinancing a home.FHA is a federal agency that insures banks allowing them to make 30 year fixed mortgages at lower rates to borrowers with less than perfect credit.FHA will still loan to borrowers with credit scores down to 580.You can purchase a home with zero down using a down payment assistance program,you also have the sellers pay your closing costs and prepaids as well.You are not required to be a first time home-buyer to obtain an FHA loan.You may also have a non-occupant co-borrower help you qualify for the loan.The FHA loan program has recently increased its loan limits in Indiana to $271,050 for a maximum loan amount.

                             Refinancing With an FHA Loan

  If you need to refinance your current home FHA offers lower rates and up to 95% cash out with no price adjustments.If you currently have an FHA mortgage you may do a streamline refinance with no credit check or appraisal.

                           FHA Manufactured Home Loans

   FHA will allow manufactured home loans.Home must be on a foundation and meet FHA manufactured home guidelines.You can also refinance your higher rate manufactured home loan or adjustable rate to a safe 30 year fixed low rate mortgage.Please send us an email or call for details on refinancing with an FHA loan program.Follow the link below for more information on FHA lending. 

                                  FHA Web site link www.fha.gov                                

        Click on APPLY NOW to get approved for an FHA loan !

                      If you have questions on FHA Please email s1261@earthlink.net

 



Community Mortgage - 5534 St. Joe Road - Fort Wayne, IN 46835
Office Phone: (260) 485-5555 Fax: (260) 485-3540 Cell Phone: 574-457-6643
Toll Free Phone: 800-333-2992


We lend in the following states: INDIANA

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