At Lenox/WesLend Financial, we want to make it easy for borrowers to acquire a home, even if they feel less than confident in their financial situation. If you have a less than perfect credit history, you may feel that obtaining a mortgage is out of reach. An FHA loan, however, can be easier to qualify for than a conventional loan. It is for this reason we offer government-insured FHA (Federal Housing Administration) loans.
What are the benefits to an FHA loan?
FHA-insured loans have a less restrictive approval criteria:
Borrowers who are shy of perfect credit scores, low-income families or first time homebuyers should still have great options aside from conventional home loans.
FHA loans have low down payments:
An FHA mortgage has a lower down payment requirement allowing borrowers to purchase a new home with as little as 3.5 percent down. Some borrowers apply monetary gifts toward down payments. Thus making their out-of-pocket down payment much less.
FHA loans have an easier refinance process:
With the FHA Streamline Refinance Loan Program, you can refinance your existing FHA loan to a much lower interest rate with reduced fees, no appraisal and no income requirements, subject to FHA guidelines.
FHA loan requirements offer increased flexibility with your money:
If a homeowner decides to refinance, it is possible to finance more than 80 percent of the home’s value, allowing our customers more access to cash.
Why choose Lenox/WesLend as your lender?
We have been serving the mortgage industry since 1999. All of our mortgage advisors have the experience to help customers successfully navigate through the mortgage process and find the right loan solution. It is our goal to help customers truly afford the home they want to live in. Offering low mortgage rates and finding a payment that fits within your budget is important to us. Additionally, we want the process to be swift and simple, closing loans in just over 30 days on average, and taking every step with our customers along the way. Financing a mortgage should not be difficult. Choose a lender who knows the Federal Housing Administration requirements and who has the knowledge to help you find the right mortgage for your financial situation.
Have the confidence to move forward with your homeownership goals by partnering with Lenox/WesLend today! Get more information about FHA loans, or additional low cost mortgage options or find out if you prequalify by contacting us.