FHA mortgage loans are an excellent source of financing in the State of New Jersey, North Jersey and South Jersey alike. FHA loans are a government insured loan that tends to be a little more lenient credit-wise than traditional Fannie Mae financing. With purchase money financing with just 3.5% down with  up to a 6% seller contribution and cash-out refinancing up to 85% of the value of your home, FHA mortgage financing may be your best bet. Contact your mortgage professional at 1-800-999-2489 x7973 or via e-mail at patr@fifcorp.com

In New Jersey, 2-4 Family Home Purchase can be done through FHA with a 3.5% down payment and up to a 6% seller concession. Buyers looking to purchase 3 or 4 unit properties will need to have 3 months mortgage payments in reserves after closing.

The FHA has some great 3/1 and 5/1 ARM's with rates as low as 3.75% The caps are only 1% per change and 5% lifetime and you qualify at the starting rate.

New Jersey has many FHA Community Reinvestment Act(CRA) money loans available for low-to-moderate income buyers. These loans may also be available to borrowers buying in low-to-moderate income areas, regardless of income. Check with your mortgage professional about these programs to see if you qualify.

FHA allows for financing just 2 years after the discharge of a Chapter 7 Bankruptcy, provided you have re-established good credit. You may refinance ou// t of a Current Chapter 13 Bankruptcy payment plan provided you have the trustee's permission, a timely mortgage history, and a timely payment history on your bankruptcy. You must have had the payment plan for at least 1 year.