Flexible loan products offer lower down payments
FHA loans are insured by the Federal Housing Administration (FHA). As an FHA approved Lender, Directors Mortgage has the ability to offer you these flexible products that can lower your down payments or reduce the number of qualifying requirements.
Some of the Benefits of an FHA loan
- Refinance up to 97.75% of your home’s value.
- Purchase a home with a flexible down payment as low as 3.5%. (96.5% Loan to Value)
Additional FHA Loan Advantages
- Flexible Credit Requirements
- Fixed or Adjustable Rate Loans
- Allowance of Gift Funds – family member or employer to contribute or “gift” to your down payment.
- FHA Streamline Refinance – Less Paperwork, Flexible Credit requirements and low “out of pocket” costs.
- FHA loans can help you Purchase and Renovate a “fixer-upper”. (HUD’s 203(k) Program
FHA loan limits vary per state and county and are subject to credit approval and certain restrictions.
Contact a Directors Mortgage Specialist for more details on our FHA loan products.