DuTrac Mortgage now offers FHA loans which allow for a low down payment as well as a low monthly payment. Trust the DuTrac Mortgage team with all your home financing needs.
FHA Loan Benefits:
• Down payment can come from a family member, or a grant from a state or local government down payment assistance program
• Allows for a 620 credit score without increases to interest rate
• Very limited credit history is allowed
• Streamline refinance
• Non-owner occupied co-borrower can be used for qualifying
FHA Loan Features:
• 3.5% down payment
• More lenient on credit
• More lenient on loan qualifying standards
• Up to 55% DTI
• Typically lower rates than conventional mortgages
• 3 years foreclosure/short sale versus 7 years with other mortgage products
• 2 years bankruptcy versus 4 years with other mortgage products
Schedule a DuTrac Mortgage consultation by contacting DuTrac’s real estate lending team today!