FHA LOANS
A Loan Designed To Get You Into A Home
What is an FHA loan?
FHA loans are insured by the Federal Housing Administration, and with the government guarantee, lenders are more willing to lend with more lenient qualifying guidelines. FHA loans have been specifically designed to help borrowers get into homes.
First Time Buyers can often benefit from the more lax guidelines of a FHA loan, including a lower down payment. Typical down payments can range between 10% – 20%*, but with a FHA loan the down payment can be as low as 3%*. This lower down payment can even be provided to you from a family member as a gift fund.
With more lenient qualifying guidelines, FHA loans make homeownership more accessible to more people. Credit scores to 640, lower debt ratios, and seller contributions are all allowed with a FHA loan. A few ups and downs in your credit history may be ok with the FHA.
First Time Buyers are not the only ones who can benefit from a government guaranteed loan. You can refinance with an FHA loan, even if you don’t currently have an FHA loan. FHA loans come with a few requirements. Because the program intends to help buyers get into a home, you must live in it as your primary residence. (Don’t worry investors, we have plenty of other loan programs that are perfect for you.) Flip properties are allowed, however, as long as it is owner occupied.
FHA Loan Benefits
Ideal for First Time Buyers
Lower down payments and gift funds allowed
More flexible qualifying guidelines
Available for purchase or refinance, fixed or adjustable rate

We’re here to help.
Some FHA programs will require you to have the home appraised by an FHA- approved appraiser, and for you to pay mortgage insurance premiums. Plan on paying Up Front Mortgage Insurance (UFMI) and a Monthly Mortgage Insurance Premium, unless you qualify for the FHA streamlined* finance program. Our American Pacific Mortgage expert loan advisors can tell you what you qualify for and what to expect for your total payments, including mortgage insurance.* Qualifying factors may apply
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JJ Mack Team – American Pacific Mortgage
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© 2022 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.