FHA loans with Down Payment Assistance
FHA loans are available across the nation in all cities, counties, and states that we are licensed in. The minimum down payment for FHA Loans is 3.5%. We now offer FHA Down Payment Assistance in the form of a second Mortgage. This can provide the 3.5% down payment requirement or a 5% down payment assistance, which will contribute some extra monies toward your closing and settlement costs. These are Zero Down Home Purchase loans.
FHA loans are available up to $420,680 across the nation (ie the floor), and up to $970,800 loan amounts for certain high cost areas (the Cap), and there are many cities that fall in between the 2 figures (like San Diego at $879,750 and Riverside / San Bernardino counties at $562,350. Call us now at 866-900-2342 toll free to find out the current limits for your area. We can help you purchase or refinance your home with our secure fixed rate FHA mortgage loans.
The maximum loan amount for our FHA Down Payment Assistance loans is the lower of $420,680 or your county FHA Loan Limit. The maximum first mortgage loan amount for these if $647,200 for 1 unit homes and $828,700 for Duplexes (or 2 units) if using Down Payment Assistance option.
Our FHA Down Payment Assistance loans are available in all areas that we serve across the nation for the purchase of Single Family homes, Condos, Townhomes, PUD's, Manufactured Homes, and Duplexes.
FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Some of the other benefits of FHA financing:
- Just 3.5 percent down payment is required.
- Down Payment Assistance available for qualified buyers - No Down Payment required for home purchase
- Closing Costs can be paid by the seller or with a Gift from family
- Down payment can be a gift from family
- More flexible underwriting criteria than conventional loans
- Loans are assumable to qualified buyers
- Can be used to purchase Single Family Homes, Condominiums, Townhomes, Manufactured Homes, and Duplexes.
- Available as soon as 2 years after a Bankruptcy
- Available as soon as 3 years after a Foreclosure
- FHA Duplex loans available with Down Payment Assistance (IE - no down payment required for Duplex purchase)
Call the FHA Loan Pros at VanDyk Mortgage today at 866-900-2342 to get started, text Brian at 760-752-4480 or apply online at VanDykFunding.com
Multiunit homes have many names such as 2-unit, 3-unit, 4 unit, duplex, triplex, fourplex, twoplex, threeplex, quadplex, units, etc.
Call us today to get started - 866-900-2342 Toll Free, or online here: Get Pre-Approved Now.