FHA Loan Programs
Red Oak Mortgage is proud to offer FHA Loan Programs including standard and renovation products. These loans generally offer a more relaxed underwriting criteria than a conventional loan, and are insured by the Federal Housing Administration. They include benefits such as:
- Fixed-rate terms of 30, 25, 20, 15, and 10 years
- Adjustable-rate loans with fixed periods of 5 and 3 years
- Purchase and refinance primary residences
- Include renovation funds into a purchase or refinance via the 203k program
- More relaxed underwriting criteria for credit and income
- Loan amounts up to $636,150 if qualifying areas
- Purchase a home with as little as 3.5% down, all from a gift!
We have over a decade of experience with FHA loans, and work to ensure a smooth loan process from application to closing. FHA guidelines are constantly evolving and we work hard to keep up-to-date on the current programs and rules available.
Contact us today to go over the many loan programs available to you at Red Oak Mortgage.