FHA loans continue to be a viable source for many home buyers in the Victorville real estate market.  As credit underwriting guidelines tighten and down payment requirements increase, some home buyers, especially first-time home buyers, are finding it more difficult to qualify for a mortgage loan offered by a traditional financial institution. One viable option for some first-time home buyers, or those with challenged credit, is to apply for a home loan with the Federal Housing Administration (FHA). These loans are mortgages issued by a private lender but insured by the FHA. They often

require smaller down payments and offer fixed-rate or adjustable-rate loans. However, not all home buyers will qualify. The FHA requires verification of income and assets along with a full home appraisal. While consumers with credit scores a low as 580 may qualify, home buyers should contact an FHA lender for an accurate assessment of their situation and ability to qualify.

If you need the names of a few trustworthy lender, we know who the best ones are, we work with them every day.

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