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FHA Loans (Fixed, Adjustable, Purchase, Streamline, Cash-out)

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The Federal Housing Administration (FHA) insures mortgage lenders against potential losses that may occur from borrower-default. Because the loans are insured, the guidelines are less strict and allow for more opportunities to homeowners.

Waiting Period Chart

  • Foreclosure- 7 years (conventional) 3 years (FHA)
  • Short Sale- 4 years (conventional) 3 years (FHA)
  • Bankruptcy- 4 years (conventional) 2 years (FHA)

The minimum down payment required for a purchase through FHA is 3.5%, and financing is available for borrowers with credit scores as low as 500. FHA loans are also eligible for future Streamline refinances—these are rate reductions offered to the borrower at no-cost in favorable markets.

Cash-out requirements for FHA loans allow the borrower to liquidate up to 85% of his available equity—the maximum allowed for conventional loans is only 80%.

To off-set the risk and additional benefits awarded to them, FHA borrowers pay a monthly private mortgage insurance (PMI) along with their regular monthly payment. This insurance ranges depending on the term and length of the loan, but for most borrowers is .85% of their loan amount.

We make the process as simple as possible. You don't need to negotiate with the banks, we'll handle everything. Call us at 888-239-6161.

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Go Direct Lenders, LLC. "DBA" Veterans Direct - NMLS #1028986.

* By refinancing an existing loan, the consumer's
finance charges may be higher over the life of the loan.

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Go Direct Lenders, LLC. "DBA" Veterans Direct - NMLS #1028986.
Not affiliated with the Dept. of Veterans Affairs or any government agency.

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NMLS # 1028986

655 North Central Avenue 1736A Glendale, CA 91203
1.888.970.3098


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Go Direct Lenders, LLC. "DBA" Veterans Direct - NMLS #1028986.
Not affiliated with the Dept. of Veterans Affairs or any government agency.


Go Direct Lenders on Twitter TWITTER   Go Direct Lenders on Facebook FACEBOOK   Go Direct Lenders on Google GOOGLE   Go Direct Lenders on Yelp YELP

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Financing closing costs may increase the principal balance of the loan request, reducing overall savings. Consult the loan-specific disclosures.

Please remember that we don't have all your information, such as taxes and insurance amounts or other variables. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation.Go Direct Lenders offers a wide variety of loan options. You may still qualify for a loan even in your situation doesn't match our assumptions. To get more accurate and personalized results, please call us.