Key Features
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Local Processing
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Quick Decisions
Details
FHA loans — backed by the government — make homeownership possible for those with low-to-moderate income or savings.
- Eases home ownership for individuals/families who:
- Have low to moderate income
- Have limited savings or less than 20% for down payment or closing costs
- Are buying their first home
- Are looking to refinance an existing loan
- Government-insured home loans backed by the FHA
- Buy a home with minimal down payment (3.5%)
- Option to pay down payment or closing costs with a gift or grant
- Flexible income, debt and credit requirements
- Prepay your mortgage without penalty
- Local decision-making and processing right here in Pennsylvania
- Attentive, friendly service from start to finish
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Qualifications
FHA loans make a home mortgage available even if credit scores and income fall below the traditional measures for a home mortgage. Some of the basic qualifications are:
- Two years of steady employment
- Any bankruptcy must be at least two years old
- Any foreclosure must be at least three years old
- Your new mortgage payment should not exceed 30% of your gross income (before taxes)
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