505-881-0801 | Info@InfinitiMortgageNM.com | New Mexico MLS ID #187935 - #224396

FHA Financing

FHA Mortgage Financing in Albuquerque, NM

If you have an existing home loan through the Federal Housing Administration and are interested in refinancing, or if you are interested in purchasing a new home with a loan, you might be eligible for a FHA home mortgage financing. This option allows you to quickly obtain a home loan by completing minimal paperwork. For help determining if this is the right option for you, consult the Albuquerque loan officers at Infiniti Mortgage, LLC.

Advantages of FHA Mortgages Loan

There are certain advantages to a FHA loan, including:

  • Lower interest rates
  • Lower mortgage payments
  • Low closing costs
  • Less paperwork

Eligibility for FHA home mortgages are based off of payment history, not income, in some cases. As a result, these loans are typically easier to obtain as long as other requirements are met.

Qualifying for an FHA Mortgage Loan

Qualifying for an FHA mortgage loan requires that the borrower:

  • Have a minimum of 620 credit score
  • A maximum of 40% debt to income ratio
  • A down payment of at least 3.5%
  • Limited collections

An experienced loan officer can examine your current situation to see if you might qualify for an FHA mortgage loan.

Qualifying for an FHA Mortgage Loan

Qualifying for an FHA streamline refinance loan requires that the borrower:

  • Have a current FHA loan
  • Have a perfect mortgage payment record for a minimum of 12 months
  • Wait a minimum of six months since a previous refinance
  • Prove the purpose for the refinance

An experienced loan officer can examine your application to determine if you might qualify for an FHA streamline refinance.

About FHA Mortgage Rates

FHA mortgage rates are set by the government and vary from day to day. In order to obtain the lowest possible FHA mortgage rate, the experts at Infiniti Mortgage, LLC monitor the changes in rates constantly. We do this work for you so that you can concentrate on finding the home of your dreams or refinance your existing home to save you thousands!

Obtain an FHA Loan Today

If you want a lower interest rate or monthly payment on your mortgage, or if you want to get into a new home, consider an FHA home financing loan today. The experienced loan officers can help you decide between FHA mortgage options to determine which one is best for you. Contact Infiniti Mortgage, LLC in Albuquerque, NM today to schedule a free consultation.

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New Mexico MLS ID #187935 - #224396