FHA Loans
From GoPrime Mortgage
Bozeman Home Loans:
FHA Loans
The Federal Housing Authority (FHA) offers a variety of loan programs with fixed or adjustable interest rates. FHA loans are designed to broaden the net and make financing more attainable for borrowers who may not qualify for conventional loans, such as those with low credit scores or those who have filed for bankruptcy in the past. Refinances under this program can be streamlined to close faster with reduced documentation and underwriting requirements.
Many borrowers who think they don’t qualify for a mortgage can find success with a FHA loan. Conversely, borrowers may think FHA is the only option for them when in fact they are good candidates for a convetional loan. Our job is to find the best program for you! The Bozeman and Belgrade markets are challenging. Having a local loan officer on your team can make all the difference.
Key Advantages of FHA Loans:
- Required down payment is only 3.5% of the purchase price
- Money for the down payment can be a gift to the home purchaser from outside sources such as family or grant funds
- Borrowers can qualify with a credit score as low as 620 with compensating factors
- Bankruptcy or foreclosure does not necessarily disqualify a borrower
- FHA mortgage can be refinanced up to 97.75% of the value of the home
- Cash–out refinance available up to 85% of the value of the home
Contact our lenders today to apply for a FHA home loan.
Want to learn more?
Mortgage Rates
When you are looking for current mortgage interest rates, you need to speak with a person you can trust with your finances and find a local Montana mortgage company you know will work with you and your finances to set up the best deal that is right for you.
Refinancing
Refinancing can be a great option if you're looking to lower your interest rate. You can also take advantage of equity in your home via a cash-out refinance to get cash on hand for remodeling projects or to consolidate high-interest debt. This is where the knowledge and expertise of your local loan officer will really shine!
What to Expect
Not sure what you'll need when applying for a mortgage? GoPrime Mortgage has a gathered all the information you need to feel confident moving forward. From required documentation to application steps and tips, we've got you covered.
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