Can You Buy a Home in California with Less Than 5% Down?
Buying a home in California might seem like an impossible dream in today’s competitive market, but it doesn’t have to be. Many aspiring homeowners assume they need at least a…
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Allied Residential Mortgage
Federal Housing Administration
An FHA loan is a mortgage that is backed by the Federal Housing Administration (FHA), an agency within the U.S. Department of Housing and Urban Development (HUD).
FHA home loans require lower minimum credit scores and down payments than many conventional loans, which makes them especially popular with first-time home buyers.
In fact, according to FHA’s 2021 Annual Report, more than 84.6 percent of all FHA loan originations were for borrowers purchasing their first homes.
FHA loans come in 15-year and 30-year terms with fixed interest rates. The agency’s flexible underwriting standards are designed to help give borrowers who might not qualify for private mortgages a chance to become homeowners.
Why Choose Allied Residential Mortgage?
At Allied Residential Mortgage, we are committed to making the path to homeownership as smooth and accessible as possible.
Our team of experienced mortgage professionals will guide you through every step of the FHA loan process, ensuring you understand your options and feel confident in your financing choice.
Contact us today to learn more about how an FHA Loan can help you achieve your homeownership goals.
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Solutions Designed To Help You Achieve Your Goals
Conventional Mortgage Loan
Conventional loans come in all shapes and sizes and are originated and banked by government-sponsored entities and other financial institutions.
Veterans Administration Loans
With VA loans, veterans, service members, and their surviving spouses can purchase homes with little to no down payment and no private mortgage insurance.
Non-Qualified Mortgage
This type of mortgage loan allows you to qualify based on alternative methods (like bank statements or assets), instead of traditional income verification.
Debt-Service Coverage Ratio
Our team of experienced mortgage professionals is dedicated to offering tailored solutions like DSCR Loans that help you achieve your investment goals.
HECM Reverse Mortgage
With a reverse mortgage, the title to your home remains in your name. However, unlike traditional mortgages, you receive money instead of making payments.
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