Whether you are looking to refinance or purchase a home, FHA loans are a great choice. As an FHA approved lender, Paramount Equity Mortgage has the ability to offer a wide variety of loans to suit your personal situation. To find out if an FHA home loan is the right fit for you, fill out our quick form today.
With an FHA Refinance you can refinance up to 97.75% of your home’s value.
- By refinancing with an FHA “cash out” program, you can take up to 85% of your home’s value to use however you please.
- These mortgages provide easier credit qualification for people with poor credit or who lack a traditional credit history.
- You can apply gifts toward closing costs.
- You can qualify based on a higher debt ratio (compared to a conventional loan)
- You can even apply if you have had a bankruptcy in the past.
FHA Purchase Loan
- You can purchase a home with a down payment as low as 3.5% of the price of the home.
- Your seller can make a 3% contribution.
- FHA loan limits have been raised across the U.S. In some cases, the FHA loan limit amounts have almost doubled. Contact a Financial Specialist today to see what the limits are in your area.
FHA Loan Programs
FHA Streamline – If you are currently in an FHA loan, you might qualify for an FHA Streamline Loan. This program offers even more flexibility than a traditional refinance. It typically requires less paperwork, no new appraisal, and has flexible credit requirements.
Funds for Handyman-Specials and Fixer-Uppers – HUD’s 203(k) program can help you purchase or refinance a home. This program can roll the cost of home repairs and improvements right into the FHA mortgage.
USDA Mortgages – USDA home loans are government-backed loans that are offered to borrowers in rural areas. Because each borrower’s situation is unique, we do not post FHA mortgage rates on our site. Your mortgage rate will depend on a variety of factors. The best way to determine which rate you will qualify for is to contact a Financial Specialist for a free quote.
