In 2009,...There is NO sub-prime!

It’s FHA,... All the way!

Rates are still hovering around 5%,... but lending guidelines are tighter than ever! FHA Loans may be the only option for people with less than perfect credit or those who would have qualified for sub-prime loans in the past.

These low rates and FHA Loan options won’t be around forever. The time to act is Now!

FHA Today

The “Mortgage Meltdown” and resets on Adjustable Rate Mortgages have many homeowners searching for answers. With recent reforms and the “economics stimulus package” the FHA has come to the rescue!

Most of the changes to FHA policy were designed to give aid to first-time home buyers and families in danger of default or foreclosure. But!...the reforms are also great news for the average borrower as more and more individuals wish to refinance to a safer, more stable loan. In fact most borrowers who can meet a few simple requirements will qualify for a more stable FHA refinance.

The other good news is that it’s now much easier to qualify for an FHA loan than it is for a traditional mortgage from a typical non-FHA lender. It’s easier because the FHA guarantees your loan, which means that they guarantee the lender that if you go into default, or they are forced to foreclose on the property, most of the lenders investment will be protected.

The word on FHA mortgage rates

It gets better!! You may also get a much lower interest rate on your refinance if you go FHA. FHA loans can offer much better loan terms than traditional mortgages because once again, they are guaranteed by the federal government. Because of the guarantee, lenders feel more secure with the loan, and can offer lower long-term fixed interest rates.

With an FHA mortgage refi many borrowers with non-standard credit are now able to:

Refinance to a more reasonable monthly payment
Refinance a troubled mortgage and avoid foreclosure.
Convert home equity into cash for college, home improvements and other expenses

FHA loan programs are not credit score driven, so you do not have to have perfect credit to refinance through the FHA. The FHA requires certain standards in order to offer you a loan guarantee, but the lender is still guaranteed their money in case of foreclosure, so they are more likely to fund the loan even if the borrower's credit is not ideal.

FHA Loans are secure and stable for both the lender and borrower

Where traditional lenders will help you get your mortgage, and then leave you on your own, the FHA stands behind it’s loans. In times like these your mortgage may be bought by or sold to other companies and you will never see or deal with the original lender again. The FHA stays with you for the life of your loan, and they can help you if you get in trouble.

If for any reason you get to the point of default or foreclosure on your home, you should contact the FHA immediately. The FHA has programs that can help you retain ownership of your home in times of crisis.

For the purchase of a new home with an FHA Loan:

You can have no down payment or a very low down payment, and still get a mortgage with an FHA loan. Where most non-FHA lenders require a minimum down payment, that can be as much as 20% of the purchase price of the home, FHA loans only require 3%.

When a down payment is required, it can be a gift to you. Many lenders don't allow gifted funds to be used for down payments on a mortgage loan, but the FHA does.

Remember:

FHA generally does not require judgments or charge-offs to be paid off at closing!
FHA will do a 97% Loan to Value rate and term Refinance & a 95% Loan to Value Cash out Refinance.
If you are on an adjustable rate mortgage and is has adjusted or is about to adjust and you are behind in your payments FHASecure may be your answer.
Current with your mortgage payments and need to refinance to cash out or seeking a lower interest rate FHA may be your answer.
FHA interest rates are running less than 7.5% and lower on a 30 year fixed mortgage.

Now is the time to call us at 1-800-259-9334 and see if you qualify for these special programs.

To find out what the limit for an FHA home mortgage loan is in your area, you will need to visit the HUD web site at https://entp.hud.gov/idapp/html/hicostlook.cfm Choose your State, County and “FHA Forward” from the drop downs then click the send button.

Free FHA Mortgage Analysis

and find out how to get a
FREE Credit Report!
with NO obligation

First Name:

Last Name:

Day Phone:

Eve Phone:

State/Zip:
-

E-Mail:

Your FHA Loan Question or Concern:

Once you have completed this expression of interest or application your information will be sent to Homestar Financial. A representative from Homestar Financial may contact you by telephone or email. By submitting your expression of interest you are consenting to receive telephone calls or email from Homestar Financial.

[Home] [FHA Loan Benefits] [FHA Loan Options] [Do I Qualify for an FHA loan?] [FHA Loan Questions and Answers] [About the FHA Loan Info Center] [FHA 203K Loans] [FHA In The News] [Contact Us]

Homestar Financial, LLC - 4460 Carver Woods Drive Suite 110 - Cincinnati, OH 45242.......Call - 1-800-259-9334

License Information: Ohio Mortgage Broker License: - MB.803913.000, State of Indiana - HUD Exemption, Kentucky Mortgage Broker License - MB23264, Virginia State Corporate Commission License - MB-4313, HUD - 22187-000-8 T2

The FHA Loan Information Center