Key Highlights of FHA Home Loans in California is a post from: FHA,VA and Conventional Home Loans in all 50 States
FHA home loans remain one of the pillars of the California housing market today, enabling borrowers to obtain home ownership in California with a small down payment, and sometimes not the greatest credit history, yet still get the lowest 30 year fixed interest rates available. Below are some of the key highlights of FHA home loans in California:
- FHA loan down payment is only 3.5%
- FHA loan down payment can be a gift from a relative
- FHA loan interest rates are the lowest of all types of loans and are at record lows
- FHA loan requirements allow up to a 55% debt-to-income ratio (where conventional loans stop at 45% with less than 20% down)
- You can get a FHA loan 3 years after a foreclosure, 3 years after a short sale and 2 years after a bankruptcy
- FHA loan credit score does not have to be perfect. Give us a call if you would like us to assist you in raising your credit score
- You can buy a 2-4 unit property (if you plan to live in one of the units) with a 3.5% down FHA loan
- FHA loan limits in many parts of California go up to $729,750 in areas such as Los Angeles, Orange County, Anaheim, Santa Ana, San Jose, San Francisco and the Bay Area. Many other areas such as San Diego, Sacramento and more have high FHA loan limits.
Feel free to call 858-922-7899 or email homeloan8@gmail.com if you have any questions or would like to discuss getting a FHA loan or any other type of home loan in California.
Regards,
Warm Regards,
Rob Chomentowski
Sr. Loan Officer
858-922-7899
homeloan8@gmail.com
Related posts:
- FHA Loan California Highlights
- FHA Loan Mortgage Highlights In California
- FHA Loan Credit Score Key In California
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