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we offer FHA loans

"From beginning to end, PMG kept us informed every step of the way." - Bob & Katie K.

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FHA loans are a great option

for first-time homebuyers.

FHA loans allow you to make a down payment as low as 3.5%, as long as you have a credit score of 580 or better.

While PMG Home Loans will work face-to-face with you to help you secure an FHA mortgage loan, FHA loans are actually insured by the Federal Housing Administration.

This is because FHA loans are designed to allow first-time homebuyers who don’t have the credit or income necessary for a conventional loan to still secure a loan with a good interest rate.

One of the biggest selling points of FHA loans is that, with a credit score of 580 or higher, you can make a down payment of as little as 3.5%. Even buyers with credit scores as low as 500 can qualify for an FHA loan, and still only have to make a down payment of 10%. Compare that with the minimum credit score of 620 needed to qualify for a conventional loan!

Is an FHA loan the best option for you?

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FHA loans are insured by the government. This means that there are some requirements which have to be met. But FHA mortgages are an excellent choice if you qualify. You can get a great fixed-rate or adjustable-rate loan with an interest rate lower than you'll pay otherwise!

Benefits of FHA Loans

  • More relaxed credit score requirements.

  • Low down payments.

  • Variety of loan options.

  • High balance loan amounts.

  • Gift and seller concession allowed.

PMG Home Loans will work with you to determine which FHA loan is best for you!

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How do you qualify for an FHA loan?

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If you've sometimes felt like you couldn't fulfill your dream of buying a home because of a less-than-perfect credit score or other problems, think again! PMG Home Loans can help you understand and navigate the requirements for FHA loans and other home loan options.

If you have any questions at all, just give us a call or fill out our contact form. We would love to have the chance to help you out in any way we can.

FHA Loan Requirements

  • 580 minimum credit score and 3.5% down payment.

  • Be a lawful resident of the United States, with a valid Social Security Number.

  • FHA loans can only be used to buy a primary residence—that is, one that you’ll live in most of the time.

  • You must have either worked for your current employer for at least 2 years, or have a history of steady employment.

  • The total cost of mortgage payments, mortgage insurance, homeowners insurance, and any applicable HOA fees must meet debt-to-income requirements.

  • Appropriate waiting period after bankruptcy or foreclosure.

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Oversight #60DBO90883

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916-749-3556

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let's get approved!

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Step 1 of 4

25%
  • full name
  • phone number
  • email address
  • the property I am purchasing
  • the property I am refinancing
  • If you don't have an address yet, let us know your price range along with anything else that can get us started!
  • my current address
  • This field is for validation purposes and should be left unchanged.

PMG Home Loans, Inc. NMLS# 572121 | Terms, conditions, and restrictions may apply. Loan products are subject to availability and credit approval. Not a commitment to extend credit. PMG Home Loans, Inc  Licensed by the Department of Corporations under the California Department of Business Oversight. Company License #60DBO90833.