Are you dreaming of owning a home but worried about the down payment? 100% FHA financing might be the solution you've been looking for. This program allows qualified buyers to purchase a home without needing a down payment, making homeownership more accessible than ever.
The Federal Housing Administration (FHA) insures loans made by approved lenders, which helps lower the risk for lenders and allows them to offer more favorable terms. With 100% FHA financing, you can secure a mortgage even if you have limited savings. However, there are some eligibility requirements and guidelines you need to follow.
First, you'll need to meet certain credit score criteria, typically a minimum of 580 for a 3.5% down payment, but 100% financing may be available with a higher credit score under specific conditions. Income limits and debt-to-income ratios are also taken into account, so it's essential to speak with a knowledgeable lender.
At The Wiley Group LLC, we specialize in helping clients navigate the complexities of FHA loans. Whether you have questions about the application process or need assistance in finding the right program for your situation, our team is here to help. Contact us today at 281-741-8766 or email us at marcwly@gmail.com to learn more!