Key Benefits of FHA Loans

• Lower credit score requirements: FHA loans typically have more lenient credit score requirements compared to conventional loans, making them accessible to borrowers with less-than-perfect credit.
• Lower down payment requirements: FHA loans require a minimum down payment of just 3.5% for borrowers with a credit score of 580 or higher. This can make homeownership more attainable for those who have limited savings.
• More flexible debt-to-income ratios: FHA loans allow for higher debt-to-income ratios (DTI), which means borrowers can qualify even if they have existing debts.
• Assumable mortgages: In some cases, FHA loans can be assumed by another buyer, which can be an attractive option in certain markets.

Who is an FHA Loan Right For?

FHA loans can be a great option for:

• First-time homebuyers: The lower down payment and credit score requirements make FHA loans an attractive option for those entering the housing market for the first time.
• Borrowers with limited credit history or lower credit scores: FHA loans offer more flexibility for borrowers who may not qualify for conventional loans due to credit challenges.
• Borrowers with higher debt-to-income ratios: FHA loans can accommodate borrowers with more existing debt.

How Alyssa Can Help

At Lit Financial, our team of experienced mortgage professionals can help you navigate the FHA loan process with ease. We will:

• Evaluate your eligibility: We will assess your financial situation and determine if an FHA loan is the right fit for you.
• Guide you through the application process: We will assist you with gathering the necessary documentation and completing the loan application.
• Secure the best possible terms: We will work to secure the most favorable interest rates and terms for your FHA loan.
• Provide ongoing support: We will be there to answer your questions and provide support throughout the entire loan process.

Let Alyssa Help You Achieve Your Homeownership Goals

If you’re considering an FHA loan, we encourage you to contact Alyssa Mortgage today. Our team is dedicated to helping you achieve your homeownership dreams by providing personalized guidance and support every step of the way.