FHA Fact Sheet

FHA Fact Sheet financing can often work for borrowers who wouldn’t otherwise qualify for a traditional home loan or would be subject to higher interest and high mortgage insurance.

Here are some FHA highlights:
• 3.5% down payment required — and the down payment can be from a qualified gift
• Allows a non-occupant family member to co-sign (single-family homes only)
• Flexible underwriting
• Roll in non-structural rehab work for purchases and refinances up to $35,000
• Do not have to be first time homebuyers
• No income limits
• Federal mortgage insurance is less expensive than private mortgage insurance (PMI)
• Property condition standards are much more relaxed than they used to be
• Cash-out refinancing up to 85% loan-to-value
• 30- and 15-year fixed and 3/1 and 5/1 ARMs available
• No reserve requirements for one- and two-unit properties

I would love to talk with you about your options and discuss whether an FHA loan might be right for you.

Omar Khamisa
Mortgage Loan Manager
Mission San Jose Mortgage
Office: 209-651-2000
Cell: 209-910-4675
NMLS: 369325

We offer complete home loans: Adelanto, Agoura Hills, Alameda, Albany, Alhambra,Aliso Viejo, Alturas, Amador City, American Canyon, Anaheim, Anderson, Angels Camp, Antioch, Apple Valley, Arcadia, Arcata, Arroyo Grande, Artesia, Arvin, Atascadero, Atherton, Atwater, Auburn, Avalon, Avenal, Azusa, Bakersfield, Baldwin Park, Banning, Barstow, Beaumont, Bell, Bell Gardens, Bellflower, Belmont, Belvedere, Benicia, Berkeley, Beverly Hills , Big Bear Lake , Biggs, Bishop, Blue Lake, Blythe, Bradbury, Brawley, Brea, Brentwood, Brisbane, Buellton,Buena Park, Burbank, Burlingame, Calabasas, Calexico, California City, Calimesa, Calipatria, Calistoga, Camarillo, Campbell, Canyon Lake, Capitola, Carlsbad, Carmel-by-the-Sea, Carpinteria, Carson, Cathedral City, Ceres, Cerritos, Chico, Chino, Chino Hills,Chowchilla, Chula Vista, Citrus Heights, Claremont, Clayton, Clearlake, Cloverdale, Clovis, Coachella, Coalinga, Colfax, Colma, Colton, Colusa, Commerce, Compton, Concord, Corcoran, Corning, Corona, 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