FHA LOANS IN CALIFORNIA

Don’t have perfect credit? That does not need to stand in the way of purchasing a home in California with a low down payment. The government-backed FHA mortgage program could be just the loan product you need to open the door to affordable homeownership.

What is an FHA Loan?

An FHA mortgage is a type of loan that receives backing from the Federal Housing Administration. What that means is that the FHA will cover the loan should a borrower default. For lenders, this results in a low-risk scenario, even when a borrower does not have a perfect credit score.

This is what makes qualification for an FHA mortgage flexible and easy. As you will discover below, FHA loans also include other excellent advantages.

Benefits of FHA Mortgages in California

Buy a home now without waiting to save up for a larger down payment.
Pay affordable interest rates even if your credit score is not perfect.
Capped closing costs keep home purchasing even more affordable. The seller can pay the closing costs.
Choose your loan term and interest rate format.

FHA mortgages are available for far more than just home purchase. You can build a home with an FHA loan or renovate one. You also can refinance and consolidate high-interest debts with this type of loan.

Do You Qualify for a California FHA Loan?

The basic requirements for FHA loan qualification are:

A minimum credit score of 500-580 (depending on the down payment you hope to qualify for).
A debt-to-income ratio of 43-45%.
A clear Credit Alert Verification Reporting System (CAIVRS) record.
A consistent employment history of two years or more.
A property intended for purchase as a primary residence. It must sit on a permanent foundation, and have a construction date no earlier than June 15th, 1976.

Additionally, there are waiting periods required following a foreclosure or bankruptcy (neither will stop you from qualifying).

For a foreclosure, the waiting period is 3 years. For a bankruptcy, it is 12-24 months.

Apply for an FHA Mortgage in Oxnard or Beyond

It is time to move into a California home with an affordable down payment and interest. We can help you buy a home with an FHA loan in Oxnard, Ventura, Santa Barbara, Los Angeles or anywhere in California. To begin, please give us a call today at (805) 402-5302 to schedule your mortgage consultation.

See What Our Clients Are Saying About Us!

Financial Home Associates

“I have worked with Craig Maltman for many, many years. Feels like both grew up in the business! He is still my leder of choice. He returns call promptly of all house of the day and often night (and that is rare with todays lenders) and pulls off the impossible to get that all important loan approval. Try him and he will be your lender of choice for ever”

Emma Morata

Craig was wonderful to work with. He is responsive and made the process as seamless as possible. Would definitely go to him again for future lending!

John Guerrero

Craig was extremely helpful and totally there every step of the way through the whole process. He was very transparent and completely honest with everything he did for me. He was very knowledgeable and fast. I would (and will) use Craig again for any and all future transactions!

Lendsay Loaf

Craig helped me refinance my home. He got me a great rate and shaved 14 years off my mortgage with a negligible increase in my payments. Working with him was so easy, he is a great communicator and has always been available for questions. I would recommend him wholeheartedly.

Nicholas Hebert

I have had the pleasure of working with Craig for 5 years now. When my previous broker decided to close his lending division, it came as a surprise to the entire team. However without hesitation, Craig offered to take our team under his wing so that we were able to continue operating seamlessly without missing a beat. He is an extremely knowledgeable broker and a great leader, constantly adding new lenders so his entire team of loan officers can continue to offer our clients the best product options on the market. He also asks all of us for feedback when making decisions that affect the group which not all business owners do. Craig is not only a pleasure to work with, but a truly great person as well!

Linda Freeny

I have worked with Craig Maltman for many, many years. Feels like we both grew up in the business! He is still my lender of choice. He returns calls promptly at all hours of the day and often night (and that is rare with todays lenders) and pulls off the impossible to get that all important loan approval.Try him once and he will be your lender of choice for ever.

Antoinette Bartsch-Newhouse

If you want your loan to close, this is the place! Craig has helped clients achieve homeownership dreams that they did not believe possible. If you want a hard working lender; who thinks out of the box, look no further.

Buy a Home or Refinance in Oxnard Now

If you are ready to apply now for a flexible home loan in Oxnard or elsewhere in California, Financial Home Associates is standing by. To get started now, please give us a call today at (805) 402-5302 to schedule your mortgage consultation.

CONTACT

Financial Home Associates 1000 Town Center Dr #525 Oxnard, CA 93036

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Phone: (805) 402-5302
NMLS #873846

Financial Home Associates is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.