Parkside Home Loans - NMLS# 2445140
Parkside Home LoansParkside Home LoansParkside Home Loans
414-678-9004
Waukesha, WI 53188

FHA Loans

FHA Home Loans

FHA Loans are the perfect loan for first-timers and smart shoppers! FHA loans are insured against default by the Federal Housing Administration. That means they come with some nice benefits, including less stringent requirements, a lower down payment threshold, and lower interest rates. Originally, FHA loans were created with lower-income borrowers in mind. Ever since the housing crash, though, they’ve become popular across all income levels—especially among those with “just okay” credit. Now they account for almost a fifth of all new purchase mortgages. A 30-year fixed-rate FHA loan is a great choice for those looking for a low monthly payment that won’t change.

The Benefits

Down payments as low as 3.5%
A lower than average credit score threshold
Extra low closing cost options available

The Requirements

A 3.5% down payment
Steady employment history
Primary residences only
A credit score of 580 or above
No bankruptcies in the last 2 years and no foreclosures in the last 3 years, with re-established good credit
A debt-to-income ratio under 43%
Interested in an FHA Loan?
Personal Care Super Support Guaranteed

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Contact

  • N16 W23233 Stone Ridge Drive Waukesha, WI 53188
  • 414-678-9004
  • Contact Us

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