Benefits of an FHA Loan

What are the main benefits of an FHA loan or mortgage?  See answers under photo.

  • You can get a loan approval to buy a Carlsbad home or other San Diego real estate with a loan of up to $697,500.
  • San Diego buyers only have to put 3.5% as a downpayment.
  • The Carlsbad real estate seller can credit up to 6% for all closing cost ( recurring and non-recurring).
  • The North County buyer can get a gift from a family member which is allowed to cover all cash to close.
  • You can have a 640 minimum FICO score.
  • There are no declining market reductions to LTV.
  • The process is streamline: no appraisal, no cost refinance available (must be paying off FHA loan).

Any questions about an FHA loan, contact Gary Harmon.  He will put you in touch with an expert San Diego North County lender such as Charla Rueda of Conerstone Lending.