Worthwhile Mortgages

FHA Loan Benefits

Down payments as low as 3.5%
Upfront mortgage insurance required, but can be “wrapped” into the loan so you don’t have to pay it out of pocket.
Private Mortgage Insurance (PMI) is a consistent rate regardless of credit score. This is very helpful if clients have a sub 680 credit score.
Can qualify with as low as a 580 credit score.
Much lower interest rates than Conventional Loan products, which helps offset the typically higher PMI.
Term lengths can vary between 15 and 30 years

Debt to income can qualify as high as 50%
Two years of work history (does not have be consecutive years, and can be multiple employers)
Much more restrictive than other programs if buying a Condominium (Condo subdivision must be FHA qualified)