Lack credit? Short on a down payment? Unsure you can cover closing costs? If so, an FHA loan may be the best solution for you.
Complete the short questionnaire above to determine if you qualify for an FHA home loan.
A loan professional at Diamond Residential Mortgage Corporation will review the information you submit and guide you to the best loan solution whether it is FHA or an alternative product.
Diamond Residential Mortgage Corporation is FHA-Approved and a full-service mortgage lender. Our loan professional will guide you from start-to-finish.
An FHA Loan is a home loan that is backed by The Federal Housing Administration (FHA) is part of the U.S. Department of Housing and Urban Development.
An FHA Loan is a government-backed product that allows borrowers who may not qualify for a conventional mortgage due to a lower credit score or an adverse credit event like bankruptcy. With lower down payment requirements, they also are great for first-time homebuyers.
Federal Housing Administration (FHA) requires down payments as low as 3.5%, minimum FICO score of 580. To help to minimize a borrowers cash-to-close, the FHA program allows sellers to contribute up to 6% of the purchase price towards closing costs.
Need help covering the down payment and closing costs? FHA allows you to utilize down payment assistance to help you with your down payment and closing costs. There are many forms of down payment assistance programs, such as grants administered at the state and local level, forgivable loans, and matched savings programs.
