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    Email: info@c1stm.com

  • FHA

    October 2, 2013
  • An Option For Affordable Homeownership  

    Client 1st Mortgage provides borrowers with a variety of Federal Housing Administration (FHA) loans to fit their needs. The primary purpose of the FHA is to promote homeownership by insuring mortgage loans made by approved lenders. This reduces the risk for lenders and encourages more favorable loan terms for borrowers. Depending on your situation, an FHA loan can require a lower down payment and closing cost than most Conventional Loans. They also often feature less stringent credit requirements.

    Available to first-time homebuyers and other qualified borrowers.

    Looking for credit qualifications that are flexible and, or can’t afford a large down payment? FHA Loans are a great option. 

    FHA 203k Loans: 

    Designed with renovations in mind, the FHA 203k loan options help homebuyers and current homeowners get funds for both purchase and renovations as part of a single loan. 

    The FHA 203k Loan is available in two option: 

    1. Standard 203k - Available for more costly, structural renovations 
    2. Streamline 203k - Available for renovations not exceeding $35,000 in expenses. 

    A few qualifications for FHA Loans: 

    • Location of the home 
    • Purchase price of the home 
    • Income limits 

    Ready to get started? Have a few questions? 

    Speak with one of our knowledgeable Loan Officers today! 

    At Client 1st Mortgage, we truly provide an experience that puts our clients first. Let us help you find the right mortgage program for your needs. 

  • Quick View

    Credit scores as low as 560 on Specialty product (LTV equal to or below 90%  580 if above 90%) 

    • HUD REOs with repair escrows allowed
    • Low down payment requirements (3.5%) 
    • Manual underwriting allowed
    • Gift funds allowed for down payment and closing costs
    • Max 55% DTI on Approve/Accept Eligible recommendations 
    • Flips < than 90 days with > 20% appreciation 
    • Back to Work - Extenuating Circumstances loans available 
    • Non occupant co-borrowers allowed 
    • Collection accounts may not need to be paid prior to closing