Understanding FHA Home Loans

What do you get when you add an easier qualification process to government-backed security?  It’s the FHA Loan, and it’s a trusted equation that can add up to savings!

We’re affiliated with many FHA approved lenders, and we offer the best lending programs to give homeowners flexibility in choosing their home loan. 

Does it offer great opportunities for refinancing or purchasing a home?  You bet!  With an FHA Loan, you’ll get access to available features including:

·       30-, 25-, 20-, and 15-year fixed-rate terms

·       Qualification for credit scores as low as 550

·       5-year adjustable-rate mortgage

·       Ability to refinance up to 97.75% of your primary home’s value

·       Option to purchase a primary home with as little as 3.5% down

The Lowdown

FHA has been helping Americans get home loans for a really long time? The early stages of government-backed loans surface nearly 100 years ago in 1934!  And over the past century, this style of home loan has helped millions of people looking to purchase or refinance a home, get a payment rate that suits their best interests.  Hey, if the FHA Loan has been around that long, something must be working!

Is an FHA Mortgage Right for You?

Think you might benefit from the flexibility an FHA Loan could provide to your unique situation?  You might be right!

If you’re looking for less stringent qualification and credit requirements, currently have a down payment or home equity that’s less than 20%, and prefer the security of a government-insured loan, it sounds like the FHA Loan is up your alley!  As an added bonus, you can pay your mortgage at any time without pre-payment penalties.

Does This Home Loan Option Work With Your Financial Goals?

You’ve got unique financial goals, and we’re here to work with you on achieving them!  Whether you’re refinancing or purchasing your home, the FHA Loan is an excellent solution for lowering your payment, keeping your payment from rising, and owning your first home.

Is an FHA Streamline Mortgage Right for You?

You love the government-backed security and simplified qualification process that came along with your FHA loan, right?  If it’s time to lower your rate and payment, but you’re still looking for the features of your current loan, an FHA Streamline Refinance from Eagle Platinum Mortgage is the perfect solution!

Sometimes known as an FHA IRRRL (Interest Rate Reduction Refinance Loan), the government-endorsed program makes financing much easier for borrowers.  Ready for the good news?  You can lower your payment without the extensive qualification process!  Can’t beat that, right?  Here are a few great features of the FHA Streamline Refinance:

  • Offered as a 5-year ARM (adjustable rate mortgage), 15-year, or 30-year fixed loan
  • No appraisal required
  • Minimal credit requirements

The Lowdown

The FHA knows a thing or two about helping folks with their home loans, considering the first stages of government-backed loans arrived on the scene nearly 100 years ago!  The FHA loans and refinances have helped millions of homeowners across the country!

Why It Might Be Time To Refinance Your Mortgage

Homeowners currently in an FHA loan are the only candidates for a Streamline Refinance.  Even if your current FHA rate is higher than the standing average, and you owe more on your home than it’s worth, you’re eligible to take advantage of today’s record low mortgage rates!

Does This Home Loan Option Work With Your Financial Goals?

If lowering your current payment is at the top of your list of home ownership goals, the FHA Streamline Refinance is just the ticket!  Even if you owe more than your home is worth, our Lending Experts can help you put a check mark next to “Savings!”

 

Mortgage Questions?

Do you have a question regarding a mortgage program?

Contact Information
Your Question