FHA Loans

 If you’re trying to repair your credit or have limited funds for a downpayment, home ownership can still be a possibility with an FHA loan. Finance of America Mortgage provides opportunities for borrowers that previously could not qualify for a conventional. Backed by the Federal Housing Administration (FHA), there are options for borrowers without a credit score as well as flexible guideline requirements.


 LOAN PURPOSE: Purchase or Refinance. 

 TERM:10YR 15 YR 20YR 30YR.



DOWNPAYMENT: As low as 3.5% down.

PROPERTY TYPE: Single family home.


FAQ's on FHA Loans

Are all FHA loans the same?
There are several types of FHA loan programs. Requirements and lending limits vary from state to state, and sometimes by county. Contact an PEF mortgage advisor to help you understand all your options and requirements for your area.
Am I borrowing money from the FHA?
FHA loans are not directly from the Federal Housing Administration. Instead, the FHA guarantees the loan so borrowers with little to no money saved for a downpayment, or those who have lower credit scores, can still obtain a mortgage through a lender.
What is the minimum credit score needed to qualify for a FHA loan?
Flexible credit options provide opportunities for home ownership to borrowers with lower credit scores. Flexible credit options provides opportunity for home ownership.
Can I qualify for a FHA loan if I've declared bankruptcy in the past?
Borrowers who are 2 years from discharge or bankruptcy and are not delinquent on federal debts or taxes may qualify for a FHA loan.