Purchase Products

FHA Loans

This mortgage product is partially insured by the Federal Housing Administration (FHA). This insurance lessens the lender’s risk to lend money and it allowing borrowers to qualify for a mortgage loan through increasing the limit on the debt to income ratio, lowering credit-qualifying criteria, and lowering closing cost.

Benefits & Features

  • Non-occupying co-borrowers accepted.
  • Permanent and non-permanent resident aliens allowed.
  • Down Payment starting at 3.5% with no reserves.
  • Down payment can be gift from a relative.
  • Up to 6% of closing cost can be contributed by the seller.


  • Minimum Fico Credit Score starting at 580
  • No Bankruptcy Chapter 7 or 11 in the last 2 years from discharge or dismissal date
  • No Bankruptcy Chapter 13 in the last year from discharge date with timely repayment.
  • No Foreclosure, Short Sale, or Deed-in-lieu in the last 4 years.


The loan process many times boils down to what you can afford. A good way to check your potential finances is to utilize a monthly payment calculator such as the one found here with Ready Mortgage Lenders.

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