Pinnacle Lending Services has several package loans specifically for first time home buyers, including loans from the Federal Housing Administration (FHA). Often times the FHA loan can be a better option for those looking to graduate from renting to home ownership.
Pinnacle’s years of experience in assisting first time home buyers, and Pinnacle Lending Services specialized financing options, you can rest assured that your home financing needs are taken care of.
Benefits of a FHA Loan
- Minimum down payment of 3% may come from outside sources
- Lower interest rates
- Lower credit scores are accepted
- Allows for higher ratio of debt to income
- No prepayment penalties
- Available for multi unit properties
- Closing costs can be rolled into loan
Is a FHA Mortgage right for me?
It is really all about loan-to-value. If you plan on putting down a small down payment, then an FHA loan is most likely your best bet. But if you are planning to make a larger down payment, a conventional loan may be a more appropriate option. Pinnacle Lending Services can assist you in choosing whether an FHA or conventional loan is best suited for you.
Am I eligible?
- Provide proof of employment for at least two years
- Provide proof of consistent or increasing income
- Any foreclosures or bankruptcies should be at least three years old.