FHA loan in Danville, California

Fha loan in Danville, California

Fha loans in Danville, California are becoming the most popular means to buy homes in 2009. Unlike conventional loans that require 20% down, FHA loans often require very little down payment (as low as 3%). Other than determining eligibility and the Fha purchase appraisal, getting a fha loan in Danville, California is just like applying for any other loan program. There are five easy steps to getting a FHA loan in Danville, California.

1. Verify your credit record, have enough cash reserves to close the loan, and have sufficient income to make the monthly payments
   
2. Get approved by an FHA-certified lender.
   
3. Find a realtor who is familiar with FHA purchases
   
4. Find a property and make an offer
   
5. Close the fha loan in Danville, California and move in.

There are tons of advantages for people that take advantage of the FHA loan in Danville, California.

• The FHA insures the mortgage, so a FHA loan in Danville, California is easier to qualify for

• Less Than Perfect Credit is taken a closer look at and even with bankruptcy, sometimes may still qualify

• 97% financing for loan amounts between $729,750 (single-family) and $1,403,400 (four-family)

• FHA loans in Danville, California have competitive interest rates because of they are government backed. Be sure to compare rates with other programs.

• No prepayment penalty

• 10, 15, 20, 25, 30 year loan repayment options, fixed and adjustable

• an appraisal that updates the buyer on the property value

• The FHA’s was created in 1934 and will continue to protect homeowners. If one encounters hard-times after buying your home, the FHA’s flexibility has many options to keep homeowners in their homes and avoid foreclosure.

What can FHA loan in Danville California be used for?

• Buying a single-family home, 2-4 unit properties, condos, double-wide manufactured homes, and modular homes

• Property must be a primary place of residence 90% of the homes value

• refinancing for cashout up to 85 percent of the home value.

• There’s also a loan for fixer-uppers and you can include all the costs in one loan.

• Or if you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Questions about a Fha loan in Danville, California or need pre-approval?

Contact Dan Pham
or call 925-771-8900 extension 160