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More2lend RETAIL HOME FHA PROGRAMS & GUIDELINES FHA PURCHASE PREQUAL FHA REFINANCE DOWN PAYMENT ASSISTANCE FHA RESOURCES

FHA Rate Updates for 7/29/2010
FHA Insured Loan ProgramRateAPR
30 Year Fixed5.000%5.497%
15 Year Fixed4.500%5.853%
5/1 ARM4.250%3.718%
3/1 ARM3.875%3.389%
APR based on 3.5% down payment on a $300,000 sale price

FHA
Purchase Assistance Program

FHA Purchase Assistance Program

1.0% Borrower Closing Cost Credit
(FHA Purchase loans)

  • 3.50% Down to $729,750**
  • 0 Down with Approved Down Payment Assistance Program
  • Funds may be 100% Gift for Down Payment and Closing.
  • Up to 6.0% Seller or Lender Credit okay!
  • No Pre Payment Penalty

FHA Refinance

  • Rate & Term Refinance to *97% LTV
  • Cash out available to *95% LTV
  • Past Credit Problems okay!
  • Subprime ARM adjusting? We can help!
  • No Equity? No problem! We will assist you with negotiating a short payoff (or) subordinate financing with your existing lender.

*LTV determined by purchase price or property
value determined by an FHA approved appraiser.

** Maximum FHA Loan limits may vary by county.
To determine your maximum county limit, please
click on the following link:

FHA Loan Limit Search 2009

 

FHA Fixed Rate Mortgage

The FHA Fixed Rate Mortgage program is by far the most common program. Fixed Rate terms may be offered for 30 years, 15 years. Some lenders may even offer 20 and 25 year terms. While the fixed rate mortgage offers the most stability, it may also end up being more expensive than other products. Fixed Rate loans have a higher rate than the Hybrid Adjustable Loans or other regular Adjustable Rate loans.

Since many people do not keep their loan for the entire fixed period, it may be better to look at some of the other programs.

If you have any questions, please send an e-mail to: FHA@more2lend.com (or) contact us at 800-310-7577.

 
FHA Loan Prequalification
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FHA Loan Prequalification
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FHA Loan Approval
within 24 hours*

*24 hour FHA loan approval is contingent upon receiving all pertinent income, collateral documentation and a signed authorization to request credit. Once all requested documentation is received, we are able to request credit and submit for an automated underwriting decision, final approval is subject only to a signed purchase contract, clear title and appraisal. If we are unable to receive an Approve/Eligible the borrower is given the option to submit for a manual underwriting which can take approximately 7-10 days.

 

 

 

 

 

 

 

 

 

 

 

M&H Partners, Inc. DBA More2Lend Financial
HUD FHA Approved Lender # 1931000001
Licensed Real Estate Broker, California Department of Real Estate #01325622
Broker of Record: Joseph M. Moore
Equal Housing Opportunity Lender
Equal Housing Opportunity Lender
09-013   
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