FHA loans offer no money down financing and 95% cash out refinances. Even if you have been denied or had a FHA loan before its still okay.
Inlanta Mortgage constantly keeps up-to-date on all of the mortgage changes going on to better serve our clients:
FHA loans in Naperville offer:
● Increased loan limits to $410,000 for a single family home in Naperville
● Down Payment Assistance, which means No Down payment Loans
● No increased costs for credit scores down to 620
● Lower mortgage insurance than conventional loans with the same down payment
● Cash out up to 95% of your home value without a higher rate
● No minimum credit score
● More liberal underwriting guidelines
● Spot approval on CONDOS
There are a lot of condos in Illinois which are not on the FHA approved condo list.
If the condo you are interested in is not, then you can review the FHA spot loan approval checklist (PDF) and if the condo association answers true to everything, then we can submit the loan to FHA underwriting for approval.
If you are looking for a mortgage that offers a low down payment and relaxed qualifying criteria while still providing competitive interest rates, an FHA mortgage may be right for you.
Inlanta Mortgage is your Naperville, Illinois Mortgage Banker:
Brian Collins
Toll Free: 877-240-5810 x106
brian.collins@madisonmortgageguys.com
www.madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blogs_brian_collins/
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