FHA Home Loans

FHA Mortgage Home Loans are excellent loans for a First Time Homebuyer in the market to purchase a new home.  This is especially true for those with little or money saved.  An FHA loan is much easier to qualify for if you have lower income or a lower credit score than many other loan products.  You may be very surprised to find how easy FHA financing can be with the Tulsa Mortgage Guy at Scissortail Financial.

Mortgages for All

Another great advantage with an FHA loan is you don’t have to be a First Time Buyer to qualify for an FHA or HUD loan.  Regardless of how many mortgages you have had in the past, you may still qualify for another, (just not at the same time).  You may even be able to purchase up to a 4-unit house with an FHA 203k mortgage.  There are FHA Mortgages  options for just about any home buying situation up to $271,050.

Low Rates for All

The term High Interest does not exist with FHA Mortgages.  You will not be sold into some risky adjustable mortgage.  These are fixed 15 or 30 years at a low interest rate.  Scissortail Financial will likely approve a 585 credit score and higher, with low market interest rates.

Please be assured with an FHA Mortgage you will likely get rates and payments that stay low!  That should give one peace of mind along with the security of the U.S. Government behind your mortgage.

Get Pre Qualified Now

Qualifications and Pre-Approvals are absolutely FREE!  Getting qualified for an FHA Loan is very simple and the process won’t cost you anything.

Click HERE to begin.

FHA Highlights:

Section 203(b)

  • Most popular of FHA’s Single Family Programs
  • 1 – 4 unit properties are eligible
  • Flexible credit requirements
  • 3.5% down payment required
  • Down payment may be gifted from specific sources

Section 203(k)

  • Usually for property rehabilitation/restoration
  • Encourages community and neighborhood revitalization
  • Only 1 mortgage loan is used for both the acquisition of the renovation
  • 1-4 unit properties are eligible
  • Required improvements include cost effective energy conservation standards and smoke detectors
  • Using a consultant may be required

As you can see, FHA programs go beyond the scope of other program types.  They offer a Streamline Refinance as well as a Streamline 203(k) for limited repairs.

When you are looking for a loan program to meet your needs, please consider the FHA program as they have become more attractive to consumers.

Contact Wayne Pope, the Tulsa Mortgage Guy for more information.

(918) 269-3621