FHA Home Mortgage Loans Insured by the FHA

• Call 1-800-224-7116
• Or Get Started Online Apply now

1 FHA Home Loans Explained

There is a common misperception among consumers that deserving homebuyers and existing homeowners can no longer secure financing. Nothing is further from the truth!

Yes, today's credit market requires more-stringent lending standards and tightened credit-quality guidelines than in years past. However, there continue to be numerous home loan programs to assist today's homeowners and homebuyers. An FHA loan program offered through Countrywide Home Loans is one such option.

At Countrywide, we've seen renewed public interest in FHA loans. What are FHA loans? FHA loans are a type of mortgage loan insured by the Federal Housing Administration. The federal government initially created FHA loan programs to encourage home ownership. The FHA does not supply the loan; it simply insures the loan to limit the risk to the lender.

An FHA insured mortgage can be used to purchase or refinance a single family home, a multi-family home, or a condominium unit. FHA loans allow borrowers without traditional credit histories or income to qualify for a home loan at a competitive rate. FHA loans also have unique features that ease qualifications for first-time buyers to obtain a home loan with a combination of low down payment options and flexible lending guidelines.

2 Benefits of an FHA Home Loan

• Flexible qualification guidelines that help make qualifying easier than with other loan programs
• First time homebuyers are eligible
• Low down payment - FHA loans allow for a down payment as low as 3%
• New home purchase loans, refinance loans and some debt consolidation loans are eligible
• If you encounter financial difficulties after buying your home, FHA has programs to help you keep your home and avoid foreclosure
• Your mortgage is insured by FHA, eliminating the need for Private Mortgage Insurance (PMI)

3 Eligibility Requirements for FHA Home Loans

• FHA home loans are available for first-time buyers and for borrowers that have not used an FHA home loan in the past 3 years.
• Requires using an approved FHA lender for FHA-insured mortgages
• Borrower must have a valid social security number; lawful residency in the United States and be of legal age to sign on a mortgage in state of residence
• No maximum income limits in order to qualify for an FHA loan
• No minimum credit score requirements

4 About the Federal Housing Administration (FHA)

The FHA helps increase opportunities for home ownership by insuring residential mortgage loans written by private mortgage lenders. The FHA sets guidelines for loan financing and construction, but it does not act as a lender itself, nor does it plan or construct housing. The FHA is an agency of the U.S Department of Housing and Urban Development (HUD).

5 FHA Home Loans - Apply Today or Call For More Information

Call Countrywide Home Loans today. We'll answer all your FHA home loan questions and review your financial needs. Call us at 1-800-871-1756 and one of our expert loan advisors can assist you.

Note: Maximum loan amounts and other restrictions apply. Ask for details.

Equal Housing Lender. © 2008 Countrywide Bank, FSB, Countrywide Home Loans Division. Member FDIC. Trade/service marks are the property of Countrywide Financial Corporation, Countrywide Bank, FSB, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved.

This website may contain links to web sites that are not part of the Countrywide Bank, FSB. Such web sites are not under our control and we are not responsible for the content in those third-party sites or any link contained in such a site. Countrywide Bank, FSB does not endorse companies or products that advertise or appear on, or link to, this Site. If you choose to access a third party web site via a link contained on this Site, you do so at your own risk.

Legal Disclaimer: The Cyberhomes™ property valuation results from the use of some and/or all of the following: automated valuation technology, statistical modeling, public records data (as available from time to time) and human logic combined to provide a rational estimate of the possible selling price of a residential property. This valuation is and does not constitute an appraisal. This valuation contains no representations or warranties regarding a property's marketability, functional or economic obsolescence, environmental damage, compliance with existing building and safety codes and regulations, or flood insurance determination. This valuation does not warrant the accuracy or completeness of any public record information or data sources used to help determine this valuation.

THE VALUATIONS ARE PROVIDED "AS IS" AND COUNTRYWIDE FINANCIAL CORPORATION AND/OR ITS AFFILIATES (COLLECTIVELY 'COUNTRYWIDE') MAKE NO REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO THEIR ACCURACY, COMPLETENESS, OR CURRENTNESS, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.

This property valuation tool is provided by Fidelity National Financial, Inc. Fidelity National Financial is not affiliated with Countrywide Financial Corporation ('Countrywide') or any of its affiliates. Countrywide makes no guarantees or warranties regarding this property valuation tool and is not responsible for the accuracy of any of the data provided. In processing applications for and making decisions regarding home loan financing, Countrywide determines the value of a property using data and valuation tools that Countywide considers appropriate for its underwriting criteria and internal decision making (collectively referred to as 'processes') and such processes may reach a different valuation than that provided by using this tool. Countrywide is not bound by or in any way obligated to accept, use or refer to the valuation and data provided by this tool in conjunction with any loan application or request for home financing.