Looking for FHA home loans San Jose, California? Get the fastest approvals, consult with me about your FHA home loan requirements. I serve the San Jose residents and surrounding cities in California. Over 2 decades of mortgage industry experience and
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FHA home loans San Jose, California | Fast approval for your home loans
FHA home loans San Jose are a kind of mortgage that are insured by the Federal Housing Administration.The Federal Housing Administration (FHA) was formed in the year 1934 in the United States. It was originally setup to stabilize the housing industry in the country and
However, the FHA does not make home loans directly to the borrowers. Rather, it guarantees a portion of a regular loan, in order to assure the lender that a certain portion will be paid back even if the borrower defaults. Under FHA home loans San Jose, California, borrowers pay insurance premiums that protects the lenders against defaults.
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Because of this assurance, FHA home loans San Jose are generally less stringent than conventional mortgages. This equates to certain benefits for the borrower; such as lower down payment requirements and more lenient credit standards.
You must consider FHA home loans San Jose:
Fha home loans san Jose
- If you are looking for the lowest down payment option to purchase your first home.
- If you had some bumps in your credit history so your scores are less than perfect.
You must consider FHA home loans in San Jose, California to remove such hurdles and especially if you had financial hardships in the recent years such as bankruptcy or foreclosure.
FHA home loans are designed with the first-time home buyer in mind. Minimum down payment of only 3.5% required, which can be gifted from a family member, and a minimum credit score of only 580. This coupled with no minimum income and more lenient credit requirements will open up the door to home ownership. No need to wait for everything to be just perfect.
Here are the basic requirements to qualify for FHA loans San Jose:
- Minimum 580 credit score
- 5% down payment – which can also be gifted to you by family members
- No Minimum income requirement is an additional benefit for the borrower
I’ve been guiding home owners in acquiring FHA home loans San Jose for the past 20 years in San Jose and other surrounding cities and I can simplify the whole mortgage process for you no matter what’s your current situation.
This is a no obligation, FREE consultation that could open the door to home ownership for you today.
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