Welcome to Allied First Bank FHA Mortgages Solution Center. We can help you to re-score your credit or build new credit to qualify for a mortgage loan. We will give you the support you need in order to purchase or refinance a home. We have a loan program to purchase a home with as low as a 500 credit score. We can even help you to find a FHA construction loan or 203(k) rehab loan.
Apply online for the best service and so that we can process the request efficiently. As a direct FHA lender, we can close tough loans when most banks and lenders say "NO." See the questions and answers section below for more information. We would also recommend to visit our video library for information on additional lending guidelines.
What does FHA have for you?
FHA loans have been helping people become homeowners since 1934. Some benefits of FHA loans are:
Low down payments
Low closing costs
Easy credit qualifying
Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5 percent of the purchase price, and most of your closing costs and fees can be included in the loan. Available on one- to four-unit properties — you can live in one unit and rent out other units to cover the mortgage.
Want a fixer-upper?
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to remodel or repair, you can refinance what you owe and add the cost of repairs — all in one loan. It is called a 203(k) loan.
Do you need financial help for seniors?
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer yes to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.
Want to make your home more energy efficient?
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
How about manufactured and modular homes?
Yes, FHA has financing for manufactured and modular factory-built housing. There are two loan products — one for those who own the land and another to buy land and start construction at the same time.
Do we need to make payment during the construction?
It depends on the loan program. Most of the time, you don't need to make a mortgage payment during the new home construction. A down payment may not be required if you have equity on the land.
When you have bankruptcy, foreclosure or slow credit, FHA is the right choice. Plus, FHA allows you, the borrower, to get the funds necessary to close from several sources. Sources include areas such as personal savings, gifts, grants, loans from retirement accounts, and seller contributions. Contact us now to discuss with one of our mortgage specialists or apply online for a faster response.