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Get a free quote on a 3.5% down FHA loan in Eastvale, CA
FHA loans are a great option for first-time homebuyers in Eastvale, CA. You don't have to be a first-time buyer in order to qualify. The flexibility FHA loans provide makes them an ideal loan for homebuyers. FHA loans typically require a 3.5% down payment and a minimum credit score of 580 or higher. Borrowers must show a steady history of employment, but can still qualify for a loan regardless if they have a higher debt-to-income ratio. For borrowers concerned with closing costs, money can be received from FHA to assist.
FHA loans can be used to buy different property types. As the purchaser, you have the ability to purchase a 1-4 unit property as long as you occupy at least one unit as your primary residence. You can obtain an FHA mortgage for a loan amount up to $562,350 for a 1 unit property and up to $1,081,450 for a 4-unit property. To keep up with the rising home prices in Eastvale, CA, the FHA loan limits are adjusted yearly. You can view the updated limits at: HUD.GOV.
Benefits of applying for an FHA loan in Eastvale, CA include:
Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below: