California FHA Lender, Purchase or Refinance California Advantages to FHA Loans

By
Mortgage and Lending with FHA home loan Mortgage

Now California home buyers can take advantage of the fact that California FHA loans are available for them to purchase a new home anywhere in the state as well as refinance their existing home.

California FHA Loan FHA Loans, California   FHA Mortgages California FHA Mortgage Lender offers LOW RATES

Did you know, the FHA home loan provides more security to homeowners than ANY other mortgage program today? In cases of financial difficulty, you have a higher probability of NOT losing your home if you have an FHA home loan Vs. having a conventional or Sub-Prime mortgage loan. Plus, all FHA home loans are FULLY assumable, adding one more layer of protection for you and your family!

We Provide FHA Home Loans in California. Fill out a quick Mortgage application and an FHA Mortgage rep will contact you Quck Mortgage Application

California FHA home loans are easy to qualify for; the program was created to help to increase homeownership in the United States. FHA program makes buying a home easier and less expensive than other types of real estate mortgage Programs. Some examples of Advantages that FHA offers are as follows

Minimal Down Payment and Closing Costs.

  • Down payment less than 3% of Sales Price  and 100% Financing options available
  • Gift for down payment and closing costs are allowed up to 6% of Sales price.
  • No reserves or savings required.

Easy  Credit Qualifying Guidelines

  • No minimum FICO score or credit score requirements.
  • FHA will allow a home purchase 2 years after a Bankruptcy.
  • FHA will allow a home purchase 3 years after a Foreclosure

 

 



 

Using the FHA home loan to purchase a home is really no different that a conventional loan. There are some additional documentation requirements, but these are actually blown out of proportion to discourage the loss of business by those Lenders who can't actually originate the FHA program and want to push you into a conventional mortgage loan program or Sub-Prime bad credit mortgage.

Refinancing an existing FHA Mortgage is actually called a streamline refinance. However, streamline only applies to properties in which you are refinancing your home for rate and term improvement only. If taking cash out, our refinancing with an FHA home loan you will have to go through traditional qualifying processes.

Amazingly enough, you can finance mobile home and land with the FHA home loan program. In some instances, you can get up to 97% loan-to-value and much, much, much lower rates than you will get through any other loan program available today!

The reverse mortgage program is designed for Seniors who are wanting either to cash-out their equity in their home, or create a monthly income stream to supplement their income. In both cases, you make NO monthly payments and it's back by the Federal Government!

The FHA 203K Mortgage program is perfect for that "Fixer Upper" house you want to buy. The one that's perfect for you, in the perfect location, but just needs some renovation!

For those can't qualify for the traditional FHA underwriting standards, 1st Continental Mortgage offers our Exclusive FHA Credit Flex program. This program was developed to help qualified applicants in qualified communities to buy today. If your credit has been recently beat up, this FHA home loan program could be the perfect alternative to those high risk, high default rate sub prime loans.

 

Proudly Serving These Communities:
Anaheim | Arcadia | Arcata | Bakersfield | Berkeley | Bishop | Carlsbad | Carpinteria
Cedar Ridge | Chico | Clearlake | Corcoran | Costa Mesa | Crescent City North | Daly City | Danville | Downey | El Cajon | El Centro | Escondido | Eureka | Fairfield
Fortuna | Fremont | Fresno | Glendale | Grass Valley | Hanford | Hayward | Huntington Beach
Irvine | La Jolla | Laguna Hills | Lodi | Long Beach | Los Angeles | Madera
Marina Del Rey | Merced | Mission Viejo | Modesto
Napa | Newport Beach | Oakland | Ontario | Oxnard | Palm Desert
Palm Springs | Palo Alto | Pasadena | Paso Robles | Petaluma
Pleasant Hill | Pleasanton | Porterville | Rancho Santa Margarita | Red Bluff
Redding | Redondo Beach | Redwood City | Riverside | Roseville | Sacramento | Salinas
San Bernardino | San Diego | San Francisco | San Jose
San Luis Obispo | San Marcos | San Mateo | San Rafael | Santa Ana | Santa Barbara
Santa Clara | Santa Cruz | Santa Maria | Santa Monica | Santa Rosa
South Lake Tahoe | Stockton | Sunnyvale | Thousand Oaks | Torrance | Truckee | Ukiah
Vacaville | Vallejo | Ventura | Visalia | Walnut Creek | Watsonville | Yuba City Proudly Serving These Counties:
Contra Costa | Marin | Mendocino | Monterey | Orange | Placer | San Bernardino | Sonoma
Alameda | Alpine | Amador | Butte | Calaveras | Colusa | Del Norte | El Dorado | Fresno
Glenn | Humboldt | Imperial | Inyo | Kern | Kings | Lake | Lassen | Los Angeles | Madera
Mariposa | Merced | Modoc | Mono | Napa | Nevada | Plumas | Riverside | Sacramento
San Benito | San Diego | San Francisco | San Joaquin | San Luis Obispo | San Mateo
Santa Barbara | Santa Clara | Santa Cruz | Shasta | Sierra | Siskiyou | Solano
Stanislaus | Sutter | Tehama | Trinity | Tulare | Tuolumne | Ventura | Yolo | Yuba

 

 

 

  

Comments (1)

Billy Ray
1st Continental Mortgage - San Jose, CA

Drew Loan Limits went up!

California FHA Limits


MSA Name County Name One - FamilyTwo - FamilyThree - Family
OAKLAND - FREMONT - HAYWARD, CA METROPOLITAN DIVISION ALAMEDA$362,790$464,449$561,411
NON-METROALPINE$362,790$464,449$561,411
NON-METROAMADOR$337,250$385,200$468,000
CHICO, CA (MSA) BUTTE$304,000$342,400$416,000
NON-METROCALAVERAS$362,790$418,350$508,300
NON-METROCOLUSA$302,100$340,260$413,400
OAKLAND - FREMONT - HAYWARD, CA METROPOLITAN DIVISION CONTRA COSTA$362,790$464,449$561,411
CRESCENT CITY, CA (MICRO) DEL NORTE$236,550$266,430$323,700
SACRAMENTO - - ARDEN - ARCADE - - ROSEVILLE, CA (MSA) EL DORADO$362,790$446,190$542,100
FRESNO, CA (MSA) FRESNO$289,750$326,350$396,500
NON-METROGLENN$218,000$256,248$309,744
EUREKA - ARCATA - FORTUNA, CA (MICRO) HUMBOLDT$299,250$337,050$409,500
EL CENTRO, CA (MSA) IMPERIAL$234,650$264,290$321,100
BISHOP, CA (MICRO) INYO$362,790$411,950$500,500
BAKERSFIELD, CA (MSA) KERN$280,250$315,650$383,500
HANFORD - CORCORAN, CA (MSA) KINGS$237,360$267,342$324,808
CLEARLAKE, CA (MICRO) LAKE$304,950$343,470$417,300
SUSANVILLE, CA (MICRO) LASSEN$216,600$256,248$309,744
LOS ANGELES - LONG BEACH - GLENDALE, CA METROPOLITAN DLOS ANGELES$362,790$464,449$561,411
MADERA, CA (MSA) MADERA$323,000$363,800$442,000
SAN FRANCISCO - SAN MATEO - REDWOOD CITY, CA METROPOLIMARIN$362,790$464,449$561,411
NON-METROMARIPOSA$312,895$353,100$429,000
UKIAH, CA (MICRO) MENDOCINO$362,790$428,000$520,000
MERCED, CA (MSA) MERCED$358,383$403,653$490,419
NON-METROMODOC$200,160$256,248$309,744
NON-METROMONO$362,790$464,449$561,411
SALINAS, CA (MSA) MONTEREY$362,790$464,449$561,411
NAPA, CA (MSA) NAPA$362,790$464,449$561,411
TRUCKEE - GRASS VALLEY, CA (MICRO) NEVADA$362,790$464,449$561,411
SANTA ANA - ANAHEIM - IRVINE, CA METROPOLITAN DIVISIONORANGE$362,790$464,449$561,411
SACRAMENTO - - ARDEN - ARCADE - - ROSEVILLE, CA (MSA) PLACER$362,790$446,190$542,100
NON-METROPLUMAS$311,600$350,960$426,400
RIVERSIDE - SAN BERNARDINO - ONTARIO, CA (MSA) RIVERSIDE$362,790$426,900$518,700
SACRAMENTO - - ARDEN - ARCADE - - ROSEVILLE, CA (MSA) SACRAMENTO$362,790$446,190$542,100
SAN JOSE - SUNNYVALE - SANTA CLARA, CA (MSA) SAN BENITO$362,790$464,449$561,411
RIVERSIDE - SAN BERNARDINO - ONTARIO, CA (MSA) SAN BERNARDINO$362,790$426,900$518,700
SAN DIEGO - CARLSBAD - SAN MARCOS, CA (MSA) SAN DIEGO$362,790$464,449$561,411
SAN FRANCISCO - SAN MATEO - REDWOOD CITY, CA METROPOLISAN FRANCISCO$362,790$464,449$561,411
STOCKTON, CA (MSA) SAN JOAQUIN$362,790$417,300$507,000
SAN LUIS OBISPO - PASO ROBLES, CA (MSA) SAN LUIS OBISPO$362,790$464,449$561,411
SAN FRANCISCO - SAN MATEO - REDWOOD CITY, CA METROPOLISAN MATEO$362,790$464,449$561,411
SANTA BARBARA - SANTA MARIA, CA (MSA) SANTA BARBARA$362,790$464,449$561,411
SAN JOSE - SUNNYVALE - SANTA CLARA, CA (MSA) SANTA CLARA$362,790$464,449$561,411
SANTA CRUZ - WATSONVILLE, CA (MSA) SANTA CRUZ$362,790$464,449$561,411
REDDING, CA (MSA) SHASTA$321,955$362,623$440,570
NON-METROSIERRA$213,750$256,248$309,744
NON-METROSISKIYOU$223,250$256,248$309,744
VALLEJO - FAIRFIELD, CA (MSA) SOLANO$362,790$464,449$561,411
SANTA ROSA - PETALUMA, CA (MSA) SONOMA$362,790$464,449$561,411
MODESTO, CA (MSA) STANISLAUS$362,790$408,616$496,449
YUBA CITY, CA (MSA) SUTTER$322,757$363,527$441,668
RED BLUFF, CA (MICRO) TEHAMA$237,500$267,500$325,000
NON-METROTRINITY$200,160$256,248$309,744
VISALIA - PORTERVILLE, CA (MSA) TULARE$247,000$278,200$338,000
PHOENIX LAKE - CEDAR RIDGE, CA (MICRO) TUOLUMNE$332,500$374,500$455,000
OXNARD - THOUSAND OAKS - VENTURA, CA (MSA) VENTURA$362,790$464,449$561,411
SACRAMENTO - - ARDEN - ARCADE - - ROSEVILLE, CA (MSA) YOLO$362,790$446,190$542,100
YUBA CITY, CA (MSA) YUBA$322,757$363,527$441,668
 
Apr 11, 2008 10:39 PM