FHA Financing

FHA Financing

If you do not currently meet the VA home loan entitlement guidelines, FHA is a great alternative to a VA mortgage. While a VA loan does provide 100% financing, FHA will finance up to 96.5% of the homes purchase price.

FHA insured home loans are similar to VA in that they have relaxed credit guidelines as compared to conventional financing options. The minimum FICO score is significantly less for an FHA loan as compared to a conventional loan.

Much like a VA mortgage, FHA underwriting guidelines are more relaxed than a conventional loan as well. Qualified buyers can purchase a home in just 24 months after a chapter 7 bankruptcy and only three years after a foreclosure of short sale.

If you would like more information about FHA home loan programs as an alternative to a VA loan, please call one of our government loan specialists today at (619) 623-0633.