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What is an FHA loan

– FHA loans are a type of mortgage offered by the Federal Housing Administration, which is an agency within the U.S. Department of Housing and Urban Development
– This type of loan will allow you to borrow up to 97% LTV (loan to value ratio) – meaning that if your home has decreased in value, you may be able to refinance
– FHA loans are insured by the federal government, so if your loan goes into default you will not lose any of your equity
– FHA loans are designed to help low income borrowers and first time home buyers, as well as those who have less than perfect credit

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The Lowdown on FHA Loans...

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Our FHA Loan Rates Are Low & Our Process is Quick & Painless

An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments. The FHA program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable. We’re here to make the FHA home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE FHA Loan Qualifier. We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.

The FHA Loan Process

Here’s how our home loan process works:

  • Complete our simple FHA Loan Qualifier
  • Receive options based on your unique criteria and scenario
  • Compare mortgage interest rates and terms
  • Choose the offer that best fits your needs

Why an FHA Loan?

Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. An FHA down payment of 3.5% is required. Borrowers who cannot afford a traditional down payment of 20% or can’t get approved for private mortgage insurance should look into FHA loans.
  • Fixed Rates
  • Adjustable Rates (ARM)
  • 3.5% Down Payments
  • Jumbo & Super Jumbo Loans
  • Terms from 5 to 30 Years

FHA Loans for Homeowners

The Federal Housing Administration (FHA) offers mortgage insurance for loans in which the borrowers have less than perfect credit or can't afford to make large down payments. This type of loan is often referred to as an FHA Loan.

FHA Loans have several benefits:

- Allows people with less than perfect credit or who can't afford large down payments to qualify for a mortgage loan
- Lower interest rates and closing costs due to FHA's guarantee of the loan, making it easier for borrowers to purchase homes
- Offers more options in terms of loan types, such as FHA Streamline or 203K - Allows room for creativity with house design and construction
- The FHA's Mutual Mortgage Insurance Fund is backed by the government so it will not go bankrupt like private mortgage insurers have in the past.
For more information on FHA Loans Longstreet Financial has the experts to help.

We’ll let you know what rate is right for you.

It may seem like a daunting task to go through the mortgage process on your own, but it doesn’t have to be. At Longstreet Financial, we will walk you through all of the steps necessary for you at no cost or obligation. All of our representatives are here to help answer any questions that you might have about your options.

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