- FHA Loan:
FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.
FHA loans are an attractive option, especially for first-time homeowners:
- Generally easier to qualify for than conventional loans.
- Lower down payment requirements, normally 3.5%.
- Cannot exceed statutory loan limits.
- The down payment and closing costs can be 100% gift.
- Credit scores are easier to qualify.
- 30 year fixed rates loans with no pre-payment penalites and fully assumable.
Futura Financial Inc. is a sponsored lender that can close loans in California. We are very close to the following cities: Covina, West Covina, Glendora, San Dimas, La Verne, Claremont, Pomona, Diamond Bar, Walnut, Baldwin Park and La Puente.