FHA Financing

FHA financing is a safe and affordable loan option for many homeowners. The only requirement is a low down payment.

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.
    • Quick and easy approval and closing process directly with Contour Mortgage!
    • No pre-payment penalty.
    • Loans are insured by the Federal Housing Administration but issued directly by Contour Mortgage.

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

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