FHA Home Loans
in California
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- 5-Star Rated Mortgage Broker
- Perfect for First Time Home Buyers
- We Are Professionals You Can Trust
- Your Investment Secured by Real Estate
- Office located in Los Angeles
What type of property are you refinancing?
Single Family
Multifamily
Condominium
Townhouse
How will this property be used?
Primary Residence
Vacation Home
Investment Property
Estimate credit score
Excellent 770+
Good 660-719
Avg. 620-659
Below avg. 580-619
Poor <579
What type of property are you purchasing?
Single Family
Multifamily
Condominium
Townhouse
Are you a first-time home buyer?
Yes
No
How will this property be used?
Primary Residence
Vacation Home
Investment Property
Estimate credit score
Excellent 770+
Good 660-719
Avg. 620-659
Below avg. 580-619
Poor <579
Final Step
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Summary
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FHA Mortgage Broker in Los Angeles
If you want to buy a home but don’t have 20% to put down, or your credit history isn’t perfect, then an FHA home loan is for you. This is the most accessible type of loan that you can qualify for, which combines a low down payment and relatively easy qualifying standards. FHA mortgage loans are perfect for those who are not approved with conventional lenders.
What is an FHA Loan?
FHA stands for the Federal Housing Administration. This is a Government agency that was created in 1934 to increase homeownership in the USA. FHA doesn’t issue the loans; instead, it provides security and mortgage insurance to lenders: if you are not able to repay your loan, the FHA will do it.
Because of the governmental guarantee lenders are more willing to make rather large mortgage loans in cases when otherwise they would be unwilling to do so, for example to buyers with a bad credit history.
Have Questions? Reach us out.
In-Person at LA Office
1810 W Burbank Blvd #150, Burbank, CA 91506
Cell-phone
M-F 10 AM-5 PM (PST)
On-line
Simply e-mail or use online-chat
Benefits of FHA Mortgage Loans
Looking to purchase a house in Los Angeles, or anywhere in California but can’t apply for a traditional mortgage? FHA loan is an excellent option. The guidelines and requirements for an FHA mortgage are much more lenient: low FICO score and small down payment are OK.
Perfect for the First Time Home Buyers
Low down payment and flexible guidelines.
Low Interest Rates
Lenders assume less risk due to FHA backing.
Finances for Home Repairs
FHA 203(k) loans fund renovations based on projected value.
Gift Fund as a Downpayment
100% of the down payment can come from a gift for primary residences.
FHA Home Loan Process
4 Easy Steps to Your Dream
Step 1
Pre-Qualification
Talk to Us to Know Your Options
Step 2
Start a Loan Program
Enjoy a Home Shopping Experience
Step 3
Pre-Approval
Get a Loan Approval on the Terms You Want
step 4
Closing
Enjoy Your Homeownership
Requirements for Getting an FHA Loan
To qualify with a 10% down payment, credit score must be at least 500. With 580+, only 3.5% down is required.
Credit Score and Down Payment
To qualify with a 10% down payment, your credit score must be at least 500. With a score of 580 or higher, you may qualify with just a 3.5% down payment.
Income Guidelines
There is no minimum income requirement, but you must demonstrate the ability to repay the loan. FHA loans are often used by lower-income borrowers because of their flexible standards.
Employment History
Lenders typically require a steady employment record of at least two years in the same field or line of work.
Legal Residency
Applicants must provide a valid Social Security number and proof of lawful U.S. residency.
Debt-to-Income Ratio
An ideal debt-to-income (DTI) ratio is below 31/43, though some borrowers may be approved with a ratio as high as 50%.
Bankruptcy History
Any past bankruptcy must have been discharged for at least two years before applying for a new FHA loan.
How to Apply for an FHA Loan in California?
We will gladly assist you and help to get qualified for this type of home loan. The following information is required to be prequalified:
- Your current address and Social Security number;
- Employment history for the past two years;
- 2 most recent Bank statements;
- 2 Most recent years of W2’s forms;
- 2 Most recent years of Federal tax returns.
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