All You Need To Know About Qualifying For FHA And VA Home Loans In California
INTRODUCTION Ainsworth Financial Mortgage Corporation is the best one to consult for VA loan and FHA loan requirements of anybody who is the first time home buyer in California. Our financial experts will provide you tailor made solution according to the specific situations and needs of our esteemed customers. Our intelligent experts with in depth knowledge of VA loan and FHA loan market will help and guide you well to get the best deal in your favor. We make it possible and feasible for you to get the loan well suited for you. You can trust us for our unmatched professional guidance that will help you to sail smoothly to get VA loan and FHA loan from the best and highly reputed lender. Lengthy, laborious and difficult documentation, paperwork and many other vital things are made easy and quick for you to get the loan easily.
Why go for VA loan? • VA loan is especially for veterans, military personnel, active duty service members and reservists and this loan is supported by federal government so that they could enjoy true home ownership with less pain and more happiness as compared to other costly conventional loans. Some unique features of VA loan that makes it easy to get are as under – • Low credit score is not a hurdle for VA loan but good payment record for last two years is more than sufficient. • No down payment is required • No upfront insurance expenses are charged in this loan. Federal government reimburses 25% to lender in case of default by borrower • No monthly mortgage insurance • Low interest rate and can be refinanced • Can be used for both purchasing and repairing home • Can be streamlined to get lower interest rate • No closing costs
FHA Loans • FHA loan is another option for you to buy a home in California. This type of loan has too many benefits which you will never avail of in any other conventional loan. Good payment record, tax returns, cash balance in saving, debt to income ratio, steady and reliable income play important role in FHA loan and low credit score is not a matter of concern in FHA loan. However you have to bear insurance expenses, closing costs and some other charges and fees. Some attractive features of FHA loan are as under - • Low down payment of 3.5% of purchase price • Moderate credit score • Insured by federal agencies to mitigate some risk of loss in case of default by borrower • Attractive interest rates
The home you buy to live in is truly yours that gives you immense pleasure, deep satisfaction, security, stability along with unique investment opportunity and this can be achieved through wonderful strategy and planning of experts of Ainsworth Financial Mortgage corporation. Call Us AT (877)267-4685