FHA Mortgage
FHA loans are government-backed mortgages that offer lower down payment requirements and more flexible credit guidelines, making homeownership accessible to a wider range of borrowers.
THE DETAILS:
FHA Loans are a great option for borrowers in need of a low-down payment option or flexible credit score requirements to purchase or refinance a home. RAM Mortgage Partners, LLC offers a variety of FHA options, including FHA Streamline program, which requires reduced documentation and underwriting compared to switching programs.
ADVANTAGES :
- Down payment as low as 3.5%
- Fixed-Rate Mortgage options available with 10 to 30-year terms
- Adjustable Rate Mortgages (ARMs) available
- High-Balance available in certain counties
- Minimum Credit Score of 580