FHA Loans

FHA Loans

An FHA Loan is a type of government-insured mortgage loan that can be a great option for first-time homebuyers who have a lower credit score and can’t afford a large down payment. With our FHA Loan Program, you can put down as little as 3.5% of the purchase price, as long as your credit score is at least 580. This can make homeownership more accessible and affordable for many people.One of the benefits of an FHA Loan is that it is available on 1-4 unit properties, meaning that you can use this loan to purchase a single-family home, a duplex, a triplex, or a fourplex. This can be a great option for those looking to invest in rental properties or for those who want to live in one unit and rent out the others.

The FHA Loan is insured by the Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD). The FHA insures mortgages so that lenders are more willing to make more mortgages available to homebuyers. Because the FHA Loan is backed by the government, lenders take on less risk, which can make them more willing to offer loans to those with lower credit scores or smaller down payments.

However, because the FHA Loan is government-backed, it does require additional fees such as the Mortgage Insurance Premium (MIP) and the Up-Front Mortgage Insurance Premium (UPMIP). These fees are used to insure the lender against losses if the borrower defaults on the loan. The MIP is a monthly fee that is included in your mortgage payment, while the UPMIP is a one-time fee that can be rolled into your loan.

If you’re considering an FHA Loan, it’s important to work with an FHA-approved lender who can guide you through the process and help you understand the costs and benefits of this type of loan. Overall, an FHA Loan can be a great option for First-Time Homebuyers, those who need a lower down payment, or those who have a lower credit score.

Disclaimer: Mortgage options are funded by 3rd party Lenders, and all underwriting requirements are based on 3rd party Lenders and Investors. Guidelines and mortgage options requirements and are subject to change. This is not a promise or commitment for a mortgage loan. Mortgage loan options may not be available in all States. This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site. For full licensing information, go to: www.nmlsconsumeraccess.org.

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LISA HOME MORTGAGE™
11880 Bustleton Avenue, Suite 204,
Philadelphia, PA 19116

Toll-Free: +1 833-835-6267
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LISA HOME MORTGAGE™ , LLC. NMLS 1758932. Full licensing information, go to: NMLSConsumerAccess.org. Equal Housing Opportunity. This Licensee is performing acts for which a Mortgage Broker license is required. LISA HOME MORTGAGE™ , LLC, DBA LISA HOME MORTGAGE™ . The content in this advertisement is for informational purposes only. This is not a promise for a mortgage. This is not an offer for an extension of credit or a commitment to lend. Loan Approval is not guaranteed and is subject to lender review of information. All loans are subject to underwriting guidelines and guidelines are subject to change without notice. All loan options are funded through 3rd party Lenders. Loan descriptions are based on associated Lenders, Investors, and underwriting requirements. Loan is only Approved when the lender has issued an approval in writing. Specified rates are subject to change without notice due to market conditions. LISA HOME MORTGAGE™ is approved to broker FHA and VA loans to approved lenders. LISA HOME MORTGAGE™ is not affiliated with any government agency. Loan programs may not be available in all States. Licensed by the Pennsylvania Department of Banking - License 71074; Delaware Broker - License 03114; California Department of Financial Protection and Innovation Financing Law - License 60DBO-124075; Colorado Division of Real Estate Mortgage Company Registration; Alabama State Banking Department Mortgage Brokers - License 23071; Louisiana Residential Mortgage Lending License Office of Financial Institutions – License 1758932; Texas Department of Savings and Mortgage Lending Mortgage Company - License 1758932.

Registered Mortgage Broker-New York State Department of Financial Services.  This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in the state of New York will be accepted through this site.  No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.