The Best of FHA Home Loans in California is a post from: FHA,VA and Conventional Home Loans in all 50 States
Below are some of the best highlights of FHA home loans in California:
- FHA loan down payment is only 3.5%. And FHA allows this down payment to be a gift from a relative
- FHA loan requirements allow non-occupant co-borrowers who don’t have to live in the property to help you qualify
- FHA loan limits in many areas in California such as Los Angeles, Orange County, San Francisco, Oakland, San Jose go up to $625,000. San Diego FHA loan limit is $546,250
- FHA loan interest rates are at ALL TIME LOWS
- FHA loan guidelines allow a seller to credit the buyer up to 6% for closing costs
- FHA allows a debt-to-income ratio of 55.9% (where as conventional loans stop at 45% with less than 20% down)
- FHA loan credit score does not have to be perfect. FHA loans can be done with credit scores down to 560. Give us a call about your credit we are experts in analyzing borrowers credit and helping fix.
I hope this gives you a better idea of some of the FHA loan requirements and advantages. Please don’t hesitate to call us at 858-922-7899 or email at homeloan8@gmail.com if you have any questions about getting approved for a FHA loan in California.
Regards,
Rob Chomentowski
Sr. Loan Officer
858-922-7899
homeloan8@gmail.com
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