FHA Loans

What can an FHA Loan do for you??

FHA loans have been helping people become homeowners since 1934. The Federal housing Administration (FHA) – which is part of HUD – insures the loan, so that we can offer you a better deal!!

  • Apply NOW and get an FHA loan!An FHA home loan allows for a low down payment
  • Helps reduce the cash needed to purchase a home
  • Minimum 600 FICO
  • Down payment can be a gift from a relative
  • Non-occupant co-borrower may be allowed
  • FHA rates are lower in comparison to conventional

Apply for an FHA loan today with Equity Reach Inc., we have been servicing the Central Coast for over 10 years and are proud to say that we have helped clients have success in getting the best mortgage rates for an FHA home loan.  While the Santa Maria Valley is our primary area of service, we also serve both the Santa Barbara County and San Luis Obispo County. The FHA loan requirements include the following. a minimum FICO of 600, an LTV of 96.5%, two years of income, a maximum debt to income ratio of 55%, minimum down payment of 3.5% of purchase price. These requirements help you get a home loan as fast as possible.

Current mortgage rates are constantly rising and dropping. This ebb and flow of the mortgage market for home loans and FHA mortgage rates is less drastic with Equity Reach Inc. we work with wholesale lenders that provide cheaper home loan rates for our clients regardless of what the market is demanding. Most banks would deny clients that fit the MINIMUM FHA requirements. Here at Equity Reach Inc, we understand that first time home buyers are looking to find a home so that they can build assets and value into their financial portfolio. We provide flexible FHA mortgage products to improve that experience and build a database of clients that have smooth mortgage processing for their first home. FHA home loans are ideal for first time home buyers because it demands less of people during the process.

If an FHA home loan is something you are interested in, come to Equity Reach Inc. and work with one of our mortgage professionals that have expertise in FHA home loans so that they can get you approved today! First time home buyers are our specialty and we encourage anyone with an FHA loan and have standard FHA mortgage rates to eventually convert their loans to a conventional mortgage where they can eventually refinance and get a lot more equity out of their home. For the first time home buyer, the FHA home loan is a perfect product and cheapest way to go.