10 Advantages Of Getting A FHA Mortgage In Virginia

On April 8, 2010, in Tips And Advice, by Naoma Doriguzzi

Written by: Naoma Doriguzzi |

Virginia - (757) 971-2876

Advantages of Getting A FHA Mortgage In Virginia

Only 3.5% down payment which may include closing cost
Down payment and closing costs may be gifted from relative or employer
Higher qualifying ratios
Higher loan to value ratio
Cash out refinance up to 85% LTV
Can have a non-occupant co-borrower ( immediate family or established relationship)
Upfront MIP(mortgage insurance premium) can be financed
No pre-payment penalties
Maximum LTV on a no cash out refinance approx 97.75%
Seller may pay up to 6% if stated in Sales Contract

Tagged with: FHA Mortgage • Virginia

About the author

Naoma Doriguzzi

I have been a Mortgage Consultant since 2003 and am committed to providing the best customer service! You can reach me or my mortgage team at anytime for the latest on your loan by email, text, phone, or social networking! We specialize in FHA, VA and VHDA mortgages in Virginia. New American Mortgage was voted "Virginia Beach Mortgage Company and Best Reverse Mortgage Company in 2009"

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