Tag Archives: FHA 203K Loans
Can I still buy a home with as little as 3.5% down?

describe the imageBefore 2008 there were programs that allowed buyers to finance 100% of their purchase. On the surface those programs sounded pretty good, except they carried high rates, adjustable terms, and pre-payment penalties.  But wait, there are still programs where you can get almost 100%, say 96.5%, a program backed up HUD, called FHA loans.  
  
FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) – which is part of HUD – insures your purchase loan. 

Low down payments, 3.5%
Low closing costs, seller can give up to 6% concession. 
Easy credit qualifying
What does FHA have for you?

Buying your first home?

FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

Want a fixer-upper?

FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Its called an FHA 203K loan.  Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs – all in one loan.

Financial help for seniors

FHA has a program commonly known as a home equity conversion mortgage, or reverse mortgage.  Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer “yes” to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.

Want to make your home more energy efficient?

You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about manufactured housing and mobile homes?

Yes, FHA has financing for some mobile homes and factory-built housing. To qualify the home must be fee simple; in other words, the mobile home or factory built housing must be on land that the property is situated.  

How to get pre approved for home loan?

purchasing your new home is to get an idea of how much house you can afford to purchase

We make it easy!  Pre-Approval is an easy process and assesses your income, assets, current debt structure and credit worthiness

Taking the time to get pre-approved is your best bet when shopping to purchase your home

  Getting a pre-approval shows your Realtor or Selling Agent that you are a serious and qualified buyer

  This process also saves you time, by making sure you are looking for homes you can reasonably afford to purchase

  Our friendly family staff is here to make sure your buying experience is pleasant and seamless as possible

  Your next step –

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com/preapproval-form/”> on line Pre-Approval Form,  you will hear from one of our mortgage consultants within 24-hours or less to discuss your submission and your next step to home ownership

After our free over the phone consultation, we will move on to the next step by issuing your pre-approval letter

Along with getting pre-approved, there will be a choice of the programs that will meet your needs and qualifications

  Below is a list of the programs we offer for you to choose from:

Our team here at Delaware Financial Capital Corp

will assist you once you get pre-approved to determine which program is best for you


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