Give a call at Accelerate Mortgage LLC for FHA loans

1. Give a call at Accelerate Mortgage LLC for FHA loans FHA loans are exclusively meant for the individuals who could not afford and would not qualify for a traditional home mortgage loan. These are designed for low to moderate income borrowers. These loans are available to the individuals with credit scores as low as 500. Regarding the eligibility criteria for FHA loans, at least two years must have passed since the borrower experienced a bankruptcy event. It is also important that you must be at least three years removed from any mortgage foreclosure events, and you must demonstrate that you are working towards reestablishing good credit. The lender might look at your work history for the past two years. As long as you have re-established good credit, you can qualify for FHA loan if you have gone through bankruptcy or foreclosure. The lower your credit score and down payment, the higher the interest rate that you will pay on your mortgage. You need to make sure that your lender must be an FHA-approved lender and you must have a steady employment history. You will also be eligible for the loan relief if you have experienced a legitimate financial hardship once you have FHA loan. It can also help you avoid foreclosure by permanently lowering your monthly mortgage payment to an affordable level. Being FHA loan applicant, you must meet minimum credit standards and obtain a loan within the loan amount guidelines set within each county. He must show the steady income and demonstrate a responsible recent history of paying your bills on time. Looking for FHA loans? Get started on an online application or give a call at Accelerate Mortgage LLC. The professional loan officers here help determine the current financial situation and your future goals. Moreover, the loan officer will also customize the loan program specific to your needs. He will help you complete your application and put your loan in process.