fha loan overview
TRANSCRIPT
![Page 1: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/1.jpg)
1. For internal use only.
FHA — An Overview
Rev. 11/1/11
![Page 2: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/2.jpg)
2. For internal use only.
About FHA
The government-backed Federal Housing Administration (FHA) provides mortgage insurance on loans made by FHA-approved lenders. W.J. Bradley is experienced at navigating the requirements for
FHA loans.
![Page 3: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/3.jpg)
3. For internal use only.
Sell More Homes FHA loans can help first-time and low-income borrowers
get into the home they desire and deserve. • Low down payment requirements • Less cash out of pocket required • May have lower FICO score requirements
Because it’s easier for borrowers to qualify for an FHA mortgage, you can sell more homes.
![Page 4: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/4.jpg)
4. For internal use only.
FHA Advantages FHA loans have many advantages over other types of loans: • Forgiving of past credit issues. • Purchase and rehab the house with only one loan using the
FHA 203(k) program. • Condos and manufactured homes may qualify.
![Page 5: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/5.jpg)
5. For internal use only.
Homebuyer Options More buyer options + More ways to qualify =
More home sales! • Gift funds or bond programs for down payment and
closing cost assistance are allowed.
• Fixed and ARM loans available.
I can help qualify your clients for an FHA loan!
![Page 6: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/6.jpg)
6. For internal use only.
90-Day Flip Waiver The 90-Day ownership requirement has been waived. Prospective buyers can use an FHA loan to purchase HUD-
owned, bank-owned and privately owned homes that have been in the seller’s possession for less than 90 days!*
FHA implemented this relaxation of requirements hoping
that it would speed resales of homes, helping to stabilize real estate prices and communities where there have been large numbers of foreclosures.
* Some restrictions apply.
![Page 7: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/7.jpg)
7. For internal use only.
90-Day Flip Waiver — Continued
How does this benefit real estate agents? • Makes more properties eligible for FHA-insured mortgages. • Expands the number of properties available to homebuyers. • Allows more people to become homeowners. Increase sales in the neighborhoods you serve!
![Page 8: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/8.jpg)
8. For internal use only.
FHA Mortgage Insurance Mortgage insurance premium (MIP) • Upfront premium is 1% of the loan amount. • Annual mortgage insurance premiums are:
< = 15 Year Amortization
LTV > 90% 0.50% LTV < or = 90% 0.25%
> 15 Year Amortization LTV > 95% 1.15%
LTV < or = 95% 1.10%
![Page 9: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/9.jpg)
9. For internal use only.
WJB: A High-Performing Lender • WJB has an enhanced level of insuring authority from
U.S. Department of Housing and Urban Development (HUD).
• HUD considers WJB a high-performing lender, allowing WJB to participate in the Lender Insurance Program (LI). The LI program makes processing FHA loans easier and more cost-efficient for lenders.
• Benefit to your clients: Better pricing on FHA loans and faster loan review times!
![Page 10: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/10.jpg)
10. For internal use only.
Choose WJB for FHA Loans WJB: • Makes the loan process less intimidating and more
transparent for homebuyers. • Quickly moves each loan through approvals, processing
and underwriting so closing is on time and stress-free. • Has some of the fastest turn times in the industry. • Provides partner marketing to help you grow your
business. • Is an expert at navigating the requirements for FHA and
other government-backed loans.
![Page 11: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/11.jpg)
11. For internal use only.
WJB…A Name You Can Trust W.J. Bradley Mortgage Capital Corp.: • Privately held independent mortgage lender founded in
2003. • Committed to helping consumers obtain real estate
financing targeted to their unique financial needs. • Backed by private investors = solid financial foundation.
WJB is an FHA loan expert!
![Page 12: FHA Loan Overview](https://reader038.vdocument.in/reader038/viewer/2022110121/558a9898d8b42a8e358b46ac/html5/thumbnails/12.jpg)
12. For internal use only.
Thank You
Let's work together to turn more home shoppers into home buyers!