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FHA Loan Information
Looking to qualify for FHA home loans? Yes! We currently offer programs that do not require credit scores for approval on purchases or refinances! This is the best mortgage, mortgage lenders can offer for Colorado real estate buyers, who currently do not have credit established. With the lowest home mortgage interest rates in Colorado , you can find comfort in 1st Metropolitan, your Colorado Springs mortgage provider.
FHA home loans have become a very popular route for the first time homebuyer looking for Colorado real estate options. However, mortgage lenders do not reserved these mortgage loans only for first time home buyers. You can buy your third or fourth home with FHA home loans. The only stipulation is that you may only have one FHA home mortgage loan at a time. These Colorado mortgage options currently offer our first time homebuyers, looking at Colorado real estate, the opportunity to get a home mortgage with the lowest interest rates available in Colorado !
The Federal Housing Administration (FHA), a wholly owned government corporation, was established under the National Housing Act of 1934 to improve housing standards and conditions throughout the United States , directly impacting the Colorado real estate market. The Federal Housing Administration made it easy to offer the best mortgage to first time home buyer at interest rates so competitive that mortgage lenders were required to maintain licensing agreements with the Federal Housing Administration in order to originate FHA home loans. The primary goal for the Federal Housing Administration was to provide Colorado mortgage companies an adequate home mortgage financing system backed by federally insured funds protecting mortgage lenders from FHA home loans in the event the home mortgage defaults. Due to the Federal Housing Administration ability to protect mortgage lenders from default, mortgage lenders are able to offer the best interest rates available, giving you your best mortgage option. So before we move to quickly on what Colorado real estate home mortgage option is best, we should first look to see if our mortgage lenders will qualify you any one of the FHA home loans available today. The Federal Housing Administrations currently utilizes a hassle free look at credit criteria. These credit qualifying processes have truly been a blessing to home mortgage interest rates, finally, you can be pleased with a payment you can afford. Ask Daniel Shepard or Jerry Case how you can qualify for FHA home loans. We have been a Colorado Springs mortgage company offering these Colorado mortgage options for years and will enjoy packaging FHA home loans as part of our best mortgage portfolio to you.
Refinancing FHA home loans requires only that you have remained with your current mortgage lenders for at least one year. If you meet these criteria, then you are eligible for a home mortgage refinance at the lowest rates available in Colorado . Streamline refinancing will not require job verification, income verification, appraisals, or credit score approval. Simply put, if you have been making all of your current payments on time to your mortgage lenders, you will be eligible for any of the FHA home loans available to you. As an active Colorado Springs mortgage company offering FHA home mortgage solution, it would be crazy if we did not offer cash out options on a FHA home mortgage. As a Colorado mortgage provider we will offer you the same options being offered anywhere FHA home loans are available.
These are the Federal Housing Authority requirements for all Colorado Springs mortgage companies as it relates to refinancing options.
 The home mortgage to be refinanced must already be either a FHA Home mortgage, or a Conventional mortgage with a minimum of 5% equity.
The home mortgage to be refinanced must be current, not delinquent, to qualify for a FHA mortgage in Colorado .
If the home mortgage refinance results in a lowering of the borrower's monthly principal and interest payments, then a streamline may be your best mortgage.
Typically in the streamline home mortgage option, no cash may be taken out at closing. This streamline simply gives you the lowest rates while lowering your payment.
However, cash-out home mortgages are available for FHA home loans under a fully-qualified method. All of our Colorado mortgage interest rates still apply, but it does give you the luxury to pay off your debt and consolidate your bills so that you can begin enjoying the savings today.
Thank you for giving us a chance to service your needs and we look forward to getting to know you. Our most important assets are our Clients. Daniel Shepard and Jerry Case
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Work with the experts! Daniel Shepard and Jerry Case at 1st Metropolitan Colorado!
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