FHA Mortgages & Home Loans

FHA mortgages and loans have made homeownership affordable for millions of first-time and move-up buyers. These loans are insured by the Department of Housing and Urban Development (HUD) and are available to all buyers. FHA loans feature low down-payments, lenient qualification guidelines and flexible credit requirements. The FHA loan program is a valued option for homebuyers unable to qualify for conventional lending with large down payments.

FHA Loan Programs with Presidential Mortgage Group:

• Fixed-Rate Mortgages: 30 year, 15 year    
• Adjustable Rate Mortgages: 5/1 ARM, 3/1 ARM, 1/1 ARM
• 30 Year Fixed-Rate with 2-1 Buydown

Features/Benefits of the FHA Program:

• Down Payments as low as 3.5%
• Lenient qualification guidelines allow for approval of higher loan amounts
• Less–than-perfect credit may be acceptable
• FHA loans are assumable
• All of the money needed for closing may come from a gift made by a relative
• Relative may co-borrow with occupant to help in qualifying
• Cash-out refinances are allowed up to 85% of the home’s value
• Local bond programs may be used to eliminate the need for any down-payment
• FHA loans are a great choice for borrowers unable to make large down-payments or with less-than-perfect credit

FHA loans are a great choice for borrowers unable to make large down payments or with less-than-perfect credit.

Learn more about how to get started with an FHA loan by contacting a loan officer at Presidential Mortgage Group today!