FHA

FHA loans make homeownership more achievable for everyone, particularly first time buyers, because you don't need a big down payment or perfect credit.

Low Down Payment

FHA loans typically require a down payment of just 3.5% of the purchase price of the home. This is significantly lower than conventional loans, which typically range from 5% to 20%.

Credit Friendly

While FHA loans for consider credit history, they are generally more lenient than conventional loans. Even a credit score in the 500s can qualify for an FHA loan.

Flexible Loan Limits

To ensure that FHA loans remain accessible across income levels and housing markets, FHA loan limits vary by county and are based on the median home prices in each area.

Mortgage Insurance Premiums

Although FHA loans require a Mortgage Insurance Premium, this can be rolled into the loan amount. These insurances allow FHA to offer more favorable terms for lower down payments and credit scores.

Property Standards

Before an FHA loan is approved, appraisers assess the property to ensure it meets the FHA property standards to qualify for financing. These standards ensure that what you buy is structurally sound, safe, and livable.

Assumable

One of the unique FHA loan features is that they are assumable. This means that if you sell, the buyer can take over your FHA loan. This can be beneficial if interest rates have risen since you obtained your loan, as the buyer may be able to assume your lower rate loan, potentially making your home more attractive to buyers.

Property purchase made possible for more people!

Down payments, credit scores, flexible requirements...

You can build equity without the constraints of conventional financing.

Cindy Regan - Originating Branch Manager - NMLS #264375

The Lending Authority Team - Hancock Mortgage -Powered by City First Mortgage Services LLC - NMLS #3117

Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. The Lending Authority Team powered by City First Mortgage Services is not an agency of the Federal Government, and is not acting on behalf or at the direction of HUD/FHA.

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Cindy Regan - Originating Branch Manager - NMLS #264375

The Lending Authority Team - City First Mortgage Powered by Gold Star Financial Group

NMLS #3446

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Gold Star Mortgage Financial Group, Corporation (NMLS ID #3446) is an Equal Housing Opportunity lender and FHA-approved lender. Gold Star Mortgage Financial Group, Corporation is a California financial lending institution licensed by the California Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Gold Star Mortgage Financial Group, Corporation is not the FHA or any other government agency. The FHA does not directly originate, underwrite, service, or guarantee any residential mortgage loan. Not all products are available in all states.

Gold Star Mortgage may choose to recommend Modern Title Group LLC (at times, d/b/a Gold Star Close) or Radiant Insurance, LLC. Gold Star Mortgage has a direct or indirect financial or ownership interest in Modern Title Group LLC (at times, d/b/a Gold Star Close) and Radiant Insurance, LLC. You are not required to use either Modern Title Group LLC (at times, d/b/a Gold Star Close) or Radiant Insurance, LLC.