In the Chula Vista area purchasing a home is relatively easy when there are financed professionals helping to set a sound financial plan. Secure Funding Group is committed and accessible to assist in an FHA Loan Chula Vista area home purchases. Their established track record speaks for itself with easy approval FHA loans that are provided within a month period. Interest rates never stay the same; in fact, they change daily. Currently, interest rates are at the lowest than it has been for a long time which gives all first time home buyers or existing home owners that wish to sell their home and purchase another the chance to own their dream home with less to pay back.
Why should a first time home buyer or existing homeowner choose an FHA loan?
A Federal Housing Administration (FHA) loan typically has a lower interest rate to qualified buyers. The minimum down payment averages about 3.5% with at least a credit score of 600 points or above. An FHA loan can regularly be used in combination with programs that provide down payment assistance. The credit criteria for FHA loans are lower than a conventional loan.
Meaning a home buyer that has a few blemishes on their credit report or no credit at all has the possibility of acquiring an FHA Loan. FHA loan Chula Vista area mortgages can be attainable by taking over another person’s debt without any additional cost. Meaning that the lender will pay part of the closing cost where the borrower can place it on the life of the new loan.
A significant advantage of an FHA loan is that the Mortgage insurance is much lower than other mortgage loans. This type of loan requires a different debt to ratio standard of 29/41% whereas the current debt to ratio is stricter at 38/36%. Thus, making it harder to get a loan that is why FHA loans are more economical for a first time home buyer or existing homeowners. The remarkable thing about FHA loans is that they are not a one-time deal and are available to both first time home buyers and reoccurring home buyers.
Home loans made easy
We recognize that every customer may have different goals or needs to be met. For this reason, we provide some FHA loan Chula Vista programs for many different individuals. At Secure Funding Group, our skilled experts are well trained to assist any individualized need that arises. We are devoted to working close with our customers to supply them with the best available service possible. An FHA loan through Secure Funding Group can be worthwhile and satisfying as they find the best economic assessment available. Call Secure Funding Group at (619)-946-7333 for any further information.