FHA Loans

FHA loans provide a great opportunity to buy a home wherever you may live. Serving the East Valley, Reliability In Lending Team is one of the top mortgage origination teams in the nation.

The Federal Housing Administration provides loans for existing and first-time homebuyers. Reliability in Lending professional mortgage originators have the experience needed to help you get the best rates possible on an FHA loan to get you in your new home.

How to Qualify

To qualify for an FHA loan with low-interest rates and a 3.5% down payment, homebuyers need a credit score of 580 or above. Homebuyers with credit scores between 500-579 can use the FHA program but must have a 10% down payment. Once the homebuyer meets the requirements, the FHA may provide allowances for people in certain circumstances. These include people who have an insufficient or nontraditional credit history. Speak with a Reliability in Lending mortgage originator to discuss options.


Advantages of FHA Loans

FHA loans have many advantages over other lending programs. FHA loans do not require a high credit score like traditional home loans. A person with average credit or a high debt ratio is still able to qualify for an FHA loan. This makes FHA loans a great option for those repaying auto loans, student loans, or repaying health care bills.

Down payments and closing costs will cut into the amount of cash on hand. FHA loans only require a 3.5 percent down payment so you can more easily afford and home.

When selling a home, the FHA loans allow new owners to assume the loan and keep the existing interest rates even if current mortgage rates are higher. This is a great selling point that can save homebuyers money on their new home.

The government insures FHA loans so they have a fast approval time. This saves first-time homebuyers time in qualifying for a home loan so they can put a bid in quickly. In today’s market, it is important to get quick approval since homes are selling faster than in previous years.

A Better Loan Awaits You

Reliability In Lending mortgage originators will help with your FHA loan application, ensuring you get the lowest interest rate and flexible terms provided by this government-backed loan. Our mortgage professionals know that buying a home is a big step, so we will handle each customer’s loan process on an individual basis and provide the expertise needed to help you purchase your home.

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