FHA Loans – Do You Qualify?

Understanding all of your different loan options can be difficult. Thankfully, with the help of the best Long Beach mortgage broker, Long Beach Home Loan, we’re here to help. So, if you’ve been wondering about FHA loans, whether you qualify, we can help get to the bottom of it.

First, let’s take a closer look at what we are working with.

What Is An FHA Loan?

FHA loans are backed by the Federal Housing Administration (FHA), allowing you to buy a home with looser financial requirements. The FHA insures an FHA loan, protecting your lender against loss if you default on your loan.

Benefits of an FHA Loan

FHA loans are often more appealing to first-time homebuyers because they have more lenient credit requirements and have low down payments options.

Here are some of the benefits FHA loans can provide prospective homebuyers:

  • Roll closing costs into the loan
  • Can be approved with a bankruptcy
  • Lenders may accept lower down payments
  • Lower credit score requirements

Do You Qualify for an FHA Loan?

Let’s take a closer look at some of the FHA loan requirements to see if you might qualify:

  • A home inspection must occur
  • You have to occupy the property within 60 days of closing
  • FHA loans are only available for your primary residence
  • An FHA-approved appraiser must appraise the home

Call Long Beach Home Loan Today!

If you think that you might qualify for an FHA loan or are interested in learning about your loan options, call Long Beach Home Loan to speak with one of our brokers today.

At Long Beach Home Loan, we have the same critical tools and mortgage products as the larger banks but are a family-based local business that focuses on serving our clients, not the corporation.

Long Beach Home Loan is a well-versed business with customized services to help you with all of your home loan advising needs. Call us at 562-340-9453 or visit us online for a FREE evaluation of your real estate needs.

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Jack Skovgard
Long Beach Home Loan
Mortgage Loan Originator
NMLS: 1448432
CalBRE: 01994726

Equal Housing Lender

Contact Us

Jack Skovgard of Long Beach Home Loan
1650 Ximeno Ave
Suite 210
Long Beach, CA 90804

 8:00 am - 6:00 pm
(After 6:00 pm by Appt)
Sat/Sun: By Appointment