FHA Financing

FHA financing is a safe and affordable loan option for many homeowners. 

Contour Mortgage is an approved FHA direct lender. This means you receive the benefits directly, which include:

    • As little as low down payment
    • Lock in a low 30-year fixed-rate.
    • More lenient credit score requirements and explainable credit challenges permitted.
    • No pre-payment penalty.

For more information on FHA loans, see HUD.gov 

What is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration (“FHA”), a government agency within the U.S. Department of Housing and Urban Development. These loans are a safe, viable option for building credit in today’s tough real estate market. Your down-payment can be as low as 3.5% of the purchase price, and in many cases your closing costs and fees can be included in the loan. The FHA allows home sellers, builders and lenders to pay some of the borrower’s closing costs, which include appraisal, credit reports and/or title expenses.

Two Mortgage Insurance Premiums are required on all FHA loans. The first is the upfront premium and the second is the annual premium. Contact your mortgage professional to learn more about these premiums and the current annual premiums for your loan amount.

FHA also offers a special loan product designed to finance home repairs and improvements called a 203K. Click To Learn More.

*Contour Mortgage Corporation is an FHA-Approved lender.

Take The First Step and Get Pre-Qualified Today!

Pre-Qualifications are an important step in today's real estate market. They show sellers that you are qualified to buy their home and that your offer should be considered above other, less serious offers.

Did you know you can secure a mortgage by filling out one of our fast and easy online applications?

Once your application is filled out we assign a Loan Processor to verify the financial information on the application and to make sure you have everything you need to proceed.

To learn more about the mortgage process and the other steps to buying a home fill out this form below to download the FREE Guide!
home-buyers-guide

Recent Articles

Mortgage Dos and Don'ts to Keep in Mind
September 26, 2017
Mortgage Dos and Don'ts to Keep in Mind

Whether you are a first-time home buyer looking to (finally!) move out of your parents’ house, or an experienced home buyer interested in downsizing, there are guidelines you...

Read More
What Is the Jumbo Loan Limit?
September 13, 2017
What Is the Jumbo Loan Limit?

If you're thinking of buying a house that could be more expensive than the average property in your area, you may need a jumbo loan. This is because mortgage lenders will...

Read More
FHA Loan Requirements
September 07, 2017
FHA Loan Requirements

If you're trying to get a home loan so you can buy a house, a Federal Housing Administration (FHA) loan may be right for you. Why should you apply for this type of loan, and...

Read More
What Are the Closing Costs for a USDA Loan?
July 31, 2017
What Are the Closing Costs for a USDA Loan?

If you've already begun seeking out a mortgage and researching the different types of loan options available, you've probably received quotes from lenders regarding down...

Read More