Loans Category : FHA Loans
FHA Loans
Federal Housing Administration (FHA) loans are a popular option for home buyers, particularly first-time buyers, who may not have a large down payment or a high credit score. FHA loans are insured by the government, which means lenders are more willing to offer these loans to borrowers who may not qualify for a conventional mortgage.
FHA loans typically require a down payment of just 3.5% of the purchase price, making it easier for buyers to get into a home. In addition, FHA loans have more flexible credit requirements than conventional loans, allowing borrowers with less-than-perfect credit to still qualify. These factors make FHA loans an attractive option for many home buyers looking to achieve their dream of homeownership.
Some Key FHA Characteristics
Low down payment requirement of just 3.5% of the purchase price
More flexible credit requirements compared to conventional loans
FHA loans are backed by the government, which makes lenders more willing to approve borrowers who may not qualify for a conventional mortgage
FHA loans have fixed interest rates, which can provide stability and predictability in monthly mortgage payments
FHA loans allow for higher debt-to-income ratios, which can help borrowers with higher levels of debt qualify for a mortgage
FHA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums
FHA loans offer options for refinancing, including streamline refinancing and cash-out refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.
Location
: Phoenix, Arizona 85041, United States
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That Loan Couple LLC
Dustin Friedel NMLS# 1930913 - Brokerage is NEXA, and their company NMLS# is 1660690
Sandra Friedel NMLS# 1835111 - Brokerage is Loan Factory, and their company NMLS# is 320841
NEXA Mortgage, LLC NMLS# 1660690
Corp: 5559 S Sossaman Rd Bldg 1 Ste 101, Mesa, AZ 85212
NEXA Mortgage, LLC is an Equal Housing Lender
Loan Factory, Inc. NMLS# 320841
Corp: 2195 Tully Road, San Jose, CA 95122
NMLS# - NMLS# 1660690 | 3100 W Ray Road #201 Office #209 Chandler, AZ 85226
NEXA Mortgage, LLC and Loan Factory, Inc. are Equal Housing Lenders
Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov.
A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov