FHA Home Loans Kansas City

FHA Home Loans Kansas City

I thought I would touch a bit on FHA loans in case you may be needing a refresher and want to know more about them. As you know, FHA Mortgage loans are one of the most popular loans in the market today because they have more than a few advantages! If you'd like to get started on your FHA Loan right now click the link below to get preapproved!

Get Preapproved for an FHA Loan Kansas City!

The FHA home loans Kansas City may also help more home owners purchase property because of the amazing rewards that it brings to each person who is approved for one. Together with less stringent rules for applications and approvals and lower down payment fees. Because the US Government backs up this program, buyers with less-than-ideal credit or funds have the ability to purchase a home.


FHA Loan Requirements:

• You must have two years of steady employment
•  Income over the previous two years is similar or has improved.
• Per month payment of a FHA mortgage can't be more than 30% of gross income.
• The credit guidelines will be different for everyone, but you must put down at least 3.5% down payment; (often is through by a family member.)

In additon to the less stringent requirements; there are also several advantages toFHA Home Loans Kansas City:

•  FHA loans want less than the traditional 20% down, although they do need a 3.5% down payment.
• These loans are generally 30-year fixed loans, however 15 year and adjustable rates can be found too.
• The closing costs and charges may be rolled into the price tag on the loans.
• FHA loans are easier to obtain approval for all those with bad credit, or for people who may be dealing with a past bankruptcy or short sales in their past.

The guidelines for FHA loans are more flexible  (at least more flexible than conventional loans) for those who do not have ideal employment or income history. There are many loan programs to meet each buyer's unique situation, and grants available for down payments, too. Check our FHA Loan page call us today (816) 268-4025 to start out getting pre-approved or sign in to our website to get get preapproved: KCloantips Application