FHA Home Loans
Who is Nationwide Home Loans and Realty Services?
Nationwide Realty Services, Inc. has been helping families with FHA financing since 1990. We are approved to provide you with FHA home loans in the state of California but we have partners who can help you in all the other 49 states. Our web site tries to provide all the information you may need regarding FHA financing regardless of where you may be. We provide this information as a free service to our clients and are happy for you to make use of it as well.
The Federal Housing Administration (FHA) – which is part of HUD – determines the qualifying guidelines. If your loan qualifies under FHA then they will insure the loan which allows us to offer you better terms with easier qualifying than on conventional loans.
Is FHA financing the answer for home buyers?
If you're buying a home an FHA loan might be what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan or paid by the seller, and you don't need to be a first time buyer to participate in the FHA loan program.
What about refinancing with an FHA loan?
If you need to refinance your current home loan FHA can help here too. If you have an existing FHA loan, you may now be able to refinance without an appraisal so even if the value of your home has dropped over time, you can still take advantage of the FHA Streamline Refinance Program. Don't have an FHA loan? Use the FHA Standard Refinance Program to pay off your existing mortgage up to 98.75% of the appraised value.
Want to make home improvements?
If your current home needs some repairs or the home you want to buy is a fixer-upper FHA may have the anser you need. You may be able to use the FHA Fixer-Upper Loan to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan. See the section on FHA 203(k) loans
If your home doesn't need repairs, but you wish to make it more energy efficient, you may be able to include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
Are you a senior citizen and in need of better cash flow?
See our section on the FHA Reverse Mortgage Program to see how you can use the equity in your home to secure a monthly income for the rest of your life. Or use the equity to pay off your current mortgage and other debt without having to qualify on income or credit.
How about manufactured housing and mobile homes?
Yes, FHA has financing for mobile homes and factory-built housing. There are two loan products – one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.
Quick Links for more details on FHA Home Loans.
