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FHA Mortgage Programs

FHA Mortgage programs are great options for those borrowers who can't meet some of the strict lending criteria of conventional loans. FHA Mortgage programs are offered through FHA Approved Lenders.

Total Mortgage Services is an FHA Approved Lender. We have a team of experts who are proficient in the various FHA Mortgage programs available. Find out more below, fill out the contact form and we'll call you to discuss which of the FHA Mortgage Programs are right for you. Call 877-868-2503 for more information and today's rates.

What are FHA Mortgage Programs?

FHA Mortgage programs are financial loan programs intended to make it easier for American's to own their own home. The FHA (Federal Housing Administration) doesn't provide the loan itself but insures loans made by private lenders. This means that the FHA will pay the lender if a borrower defaults on a loan.

The programs are available to borrowers for their primary place of residence, regardless of whether they have owned a property before. You don't need to be a first time homebuyer in order to qualify.

What Are the Advantages of FHA Mortgage Programs?

Lower Interest Rates: Typically, FHA Mortgage programs have lower interest rates than some conventional loans. This is primarily because the federal government insures the loan against default.

Smaller Down Payment: FHA Mortgage programs require a smaller deposit on the property. FHA loans require a minimum of 3% of the total property value as the down payment for your home. This is smaller than some other mortgage programs. Additionally, the down payment can be a gift from a family member, employer or charitable donation.

No Credit History Restrictions: With FHA Mortgage programs bad credit may not a problem. FHA approved lenders do not rely solely on credit ratings as an eligibility assessment for a loan. This means that if you don't have perfect credit, or you have experienced credit problems such as bankruptcy, you may still be eligible for an FHA loan.

Refinancing Options: FHA Mortgage programs have more options available in times of financial hardship. If you need to do repairs to your home or totally refinance your mortgage, you can achieve this through FHA mortgage programs with cash-out refinances available up to 95% of the appraised value of the home with 203K loans available for home repairs.

How Do You Apply for FHA Mortgage Programs?

With so many FHA Mortgage programs to choose from you need to seek expert advice to work out which one will be suitable for you. If you would like to discuss the FHA mortgage programs in more detail, or you are ready to apply, speak to the FHA Mortgage programs experts!

Fill out the Contact Form on the right or call 877-868-2503 to have a FHA Mortgage Expert call you today!

Call a Total Mortgage expert now at 877-868-2503 to find out how we can customize a mortgage loan with some of the lowest current mortgage rates for you.

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