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FHA Loans

Let us help you achieve your dreams with a Federal Housing Administration (FHA) Loan featuring a lower down payment.

Getting To Know The Federal Housing Administration 
The Federal Housing Administration (FHA) is a government entity that offers mortgage insurance on loans made by FHA-approved lenders. The FHA provides insurance on mortgages for many different types of homes including single-family and multifamily homes. The FHA is completely funded by its own self-generated income, meaning there is no cost to taxpayers for its operation and services.

What Are FHA Loans?
FHA loans are insured by the Federal Housing Administration. These loans are designed to help first-time homebuyers and experienced homeowners alike by providing them with a low down payment option.  FHA mortgage insurance serves as protection for lenders in the event of a homeowner defaulting on their home loan.

How FHA Loans Benefit You
FHA insured loans often give potential homeowners the option of making a lower down payment than they would need to make if using a traditional, non-FHA insured mortgage. FHA loan benefits include:

  • Loan is guaranteed by the government
  • Less than perfect credit can apply
  • Energy-efficient mortgages, reverse mortgages, refinances, and renovation loans also available.

FHA Loans Benefit Everyone
FHA loans don’t just benefit the potential homeowner – they also are beneficial for the economy as a whole.  They stimulate economic development in the form of expanding tax bases and creating jobs.

In fact, the FHA was created in 1934 as a direct response to difficulties in the housing industry such as unfavorable mortgage loan terms, low rates of homeownership nationwide and widespread unemployment among construction workers

Get Pre-Qualified for an FHA Loan
Now is the time to take advantage of the many benefits FHA loans offer potential homeowners. Plus, it’s now easier than ever to qualify! Our home loan professionals will guide you through the FHA loan process with expert knowledge, competitive rates, and first-class service.

2021 Loan Limits

In 2021, the loan limit will increase from $510,400 to $548,250 when purchasing with conventional financing.*

As announced by the Federal Housing Finance Agency in 11/24/20: In most of the US, the 2021 maximum conforming loan limit (for one-unit properties) for mortgages to be acquired by Fannie Mae and Freddie Max will be $548,250, an increase from $510,400 in 2020.  This is not an offer of extension of credit or commitment to lend.  Al loans subject to program guidelines and final underwriting approval.  Not all applicants qualify. Information and pricing are subject to change any time and without notice.

How to qualify for an FHA loan

To be eligible for an FHA loan, borrowers must meet the following lending guidelines:
  • Verifiable employment history for the last two years.
  • Income is verifiable through pay stubs, W-2s and tax returns.
  • Loan is used for a primary residence.
  • Property is appraised by an FHA-approved appraiser and meets HUD property guidelines.
  • Your front-end debt ratio (monthly mortgage payments) should not exceed 31 percent of your gross monthly income. Lenders may allow a ratio up to 40 percent in some cases.
  • Your back-end debt ratio (mortgage, plus all monthly debt payments) should not exceed 43 percent of your gross monthly income. Lenders may allow a ratio up to 50 percent in some cases.
  • If you experienced a bankruptcy, you must wait 12 months to two years to apply, and three years for a foreclosure. Lenders may make exceptions on waiting periods for borrowers with extenuating circumstances.

Team Guidry

Jennifer Guidry

Mortgage Loan Officer
NMLS 323935

Ryan Fay

Mortgage Account Manager
NMLS 745670

Robert Meagher

Mortgage Loan Assistant
NMLS 996241

Mary Moore

Mortgage Loan Assistant
NMLS 1495240

Our Services

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Need Help ?

Please feel free to contact us. We will get back to you with 1 business day. Or just call us now

 210-838-3310
jennifer@salending.com

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