An FHA mortgage is a viable alternative for borrowers with less than stellar credit scores. Following are some details about an FHA mortgage loan:

• FICO scores from the 580's and up.
• Interest rates are comparable to conventional rates.
• An FHA loan can be a 100% loan.
• A 6% contribution can be made by the seller or other 3rd parties.
• 100% gift by family or grant program.
• NO Origination Fee
• NO Lender Fee

Additionally -

• No Minimum Loan Limits
• Single Family & 1-4 unit Owner-Occupied units in Condos or PUD's are eligible.
• Down payment assistance is available to meet the 3% borrower contribution requirement.
• Qualifying by DU or LP automated underwriting or loans can be manually underwritten.
• 1-1 & 2-1 Buydowns are eligible on the 30, 25 & 15 year Purchase loans.

An FHA home loan is ideal for 1st time buyers and those borrowers whose loan criteria that may straddle the upper sub-prime and lower "A" paper eligibility parameters.

CALL Toll Free: 866-603-3208 for more details.

Let BankMortgageSolutions make your home buying dreams come true!