FHA Mortgage in San Diego

Federal Housing Administration (FHA) loans are a very popular home financing option. These loans offer low down payments and specialty programs such as first time home buyer, streamline, and renovation loans.

Key Features of FHA Mortgage Loans for Homebuyers

• Available in a variety of fixed rate and adjustable rate loan options.
• May allow you to use a gift or grant for all or a portion of the down payment or closing costs.
• Refinance up to 97.75% of your home’s value.
• Purchase with as little 3.5% down payment.

Benefits of an FHA Mortgage in San Diego

• Requires less cash up front for your down payment and closing costs.
• Available for nearly all income levels.
• Available for nearly all credit levels.
• Allows a co-applicant to help you qualify even if the person doesn’t live in the home.

Things to Consider When Applying for FHA Loans in San Diego

• You typically have to pay up-front and monthly FHA mortgage insurance premiums.
• Usually you can only have one FHA mortgage at a time.