Why an FHA loan?

Just as rising home prices generate homeowner equity, falling prices destroy it.  Today there are currently no zero-down loans anymore except for VA loans for Veterans and the USDA rural area loans.  FHA loans remain available at 3 percent down for lower loan amounts and conventional loans now generally require 10 % down. Any loan today that is not touched by one of the Federal Agencies will have a required down payment larger than 10 %.  So, Why an FHA loan? 

Borrow up to 97.75% of the home value.

Interest rate not based upon credit score

Less than perfect credit allowed

Seller concession of 6% towards borrowers closing costs

Non-occupying co-borrowers allowed

Part time income less than 2 years allowed

Loans for borrowers with no fico

High debt to income ratios

Gift funds allowed from a relative

Free streamline refinance to lower rate after first closing 

The Jim Soda group is here to make sure that every single transaction gets the financing they need!