This loan is insured by the Federal Housing Administration (FHA). An FHA loan allows for a lower down payment than other mortgage programs.
- A minimum 3.5% down payment
- A minimum FICO® Score of 580
- Fixed and adjustable rate mortgages
- Loans for 1-4 unit properties and Condos may be available
- Down payment funds can be a gift from a relative or employer*
- Home sellers can contribute up to 6% of the closing costs
*Subject to underwriting review and approval
- The home is your primary residence, which means that it cannot be an investment property or second home
- You must occupy the property within 60 days of closing
- Your loan cannot exceed the loan amount limit in your area. The FHA’s limit for lower-cost areas is set at $356,362 in 2021. In high-cost areas, the limit for 2021 is $822,375. Look up the loan limits in your area
Other terms and conditions will apply. Contact a Mortgage Loan Originator for more information.
Luxury Mortgage Corp. is not affiliated with or acting on behalf of or at the direction of FHA or the Federal Government
We're dedicated to helping borrowers find the right home loan program for their situation. Contact us today for a free quote and consultation.
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