FHA Loans

Flexible and Accessible Home Financing

Homeownership can seem like a distant dream for many, particularly for first-time buyers or those with less-than-perfect credit. At Impact Mortgage Group, we're committed to bringing this dream within reach. An FHA loan, backed by the Federal Housing Administration, could be your key to unlocking the door to your new home. Let's dive into the details of FHA loans and how they could benefit you.

What is an FHA Loan?

An FHA loan is a type of mortgage insured by the Federal Housing Administration. It's designed to help individuals, who might not qualify for traditional loans, secure a mortgage. FHA loans offer several unique advantages that make homeownership more accessible.

Key Benefits of FHA Loans

Lower Down Payment
FHA loans are known for their lower down payment requirements - as low as 3.5% if your credit score is 580 or higher. This lower upfront cost can make homeownership a more immediate reality for many buyers.

Flexible Credit Requirements
FHA loans come with more lenient credit requirements compared to conventional loans, making them an excellent choice for those with lower credit scores. Even if your credit isn't perfect, you could still qualify for an FHA loan.

Debt-to-Income Ratio Flexibility
FHA loans offer more flexibility with debt-to-income ratios. This means that even if you have a higher amount of debt compared to your income, you may still qualify.

FHA loans are assumable, meaning a future buyer can take over your loan with its interest rate and terms intact. This can be a significant advantage when selling, especially in a rising interest rate environment.

“With Impact Mortgage Group, securing our dream home wasn't just a transaction, it felt like a partnership. They were with us every step of the way, making the complex seem simple and the daunting approachable. Here's to new beginnings!”

Jimmy S.

Qualifying for an FHA Loan

While FHA loans are more accessible than conventional mortgages, there are still criteria that need to be met. These include a steady employment history, a valid Social Security number, and the property must meet certain standards.

Apply Now

More About FHA Loans

At Impact Mortgage Group, we're dedicated to helping you navigate your mortgage options, including FHA loans. Our team is here to provide you with the knowledge and resources you need to make informed decisions on your path to homeownership.

Apply Now

Please note: This information is provided as a guide and is not intended to replace professional real estate or financial advice. Always consult with a licensed real estate professional and financial advisor for assistance with your specific situation.