castille mortgage Company helps you with
FHA Loans & Refinancing
FHA home loans are mortgages insured and backed by the Federal Housing Administration. Because of this, FHA-approved lenders extend home financing to buyers who may be unable to qualify for a conventional home loan.
The FHA does not issue mortgages, but the agency provides insurance on mortgage payments, so more borrowers are able to get home financing.
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FHA loans offer low rates, low down payment options & flexible guidelines
There are many types of FHA Home Loans, and Castille Mortgage can help you find the best choice for your home. The requirements can vary, but there are low rates, low down payment options and flexible lending guidelines.
We are experts in finding the program that will fit your needs.
- Low down-payment – The minimum is 3.5 percent of the purchase price. Mortgage insurance is required. For first-time home buyers and those with lower savings to put down, an FHA Loan can be a great option.
- Lower credit scores – The minimum is 550. FHA loans allow more people to achieve home ownership by allowing borrowers with no credit history, or who have less than perfect credit, or who may have had some financial missteps in their past, such as a foreclosure or bankruptcy, to qualify for a mortgage.
- Highest dept-to-income allowance.
- 100 percent financing options.
- 100 percent gift funds are allowed toward the down payment and closing costs.
- Fixed-rate and adjustable rate mortgages (ARM) are available.
- Flexible qualification guidelines.
- Other requirements and conditions apply.
castille has you covered
FHA loans gives more borrowers access to financing
These loans were originally designed to make home ownership more affordable, and the program was created for borrowers with less than perfect credit. They are increasingly popular with a wide group of borrowers, and Castille Mortgage has utilized FHA loans for many people in Louisiana.
Castille Mortgage can secure an FHA home loan for borrowers with a credit score of 550.
An FHA Loan can be a great option for you in many circumstances, and these low-interest rate home loans have proven to be the right choice for many buyers today. The benefits include:
- You are a first-time homebuyer, or
- You have a lower credit score (550 and above)
- You seek a low down-payment
- You aim to refinance a current high-cost mortgage. FHA Loans have simplified refinancing because there is no credit qualifying, income verification and no appraisal required.