FHA Loans

FHA loansMany potential home buyers interested in stepping up into their first house can be intimidated by the increased credit standards required by mortgage lenders.

The experienced brokers at Premier Funding Network have successfully arranged funding for nearly every kind of borrower.

We often secure FHA loans for our clients that may have experienced financial hardship in the past. Since FHA loans are generally more lenient when it comes to credit and qualifying, they are a useful option for borrowers with an imperfect credit report.

Realizing that people with a few negative marks on their financials are still worthy of a good loan at a fair rate, the Federal Housing Administration (FHA), which is part of the U.S. Dept. of Housing and Urban Development (HUD), insures and administers a variety of mortgage loan programs. Because the FHA acts as an insurer, not a lender, the loan must be transacted through an FHA approved lender.


Some of the many benefits that are featured with an FHA loan:

  • Attractive interest rates.
  • Less stringent and more flexible qualification requirements.
  • Low down payments. For most borrowers, the FHA requires only 3.5% of the purchase price.
  • Alternate sources are allowed for the down payment, such as a cash gift from a family member or certain grants from a state or local government or various down payment assistance programs.
  • No closing costs. Some FHA loans allow closing costs such as appraisals, credit reports and title expenses to be covered by the loan.
  • Cash for repairs. The FHA has approved a special loan product for borrowers who need extra cash to make repairs to their homes. This type of loan, called a 203(k), provides for a loan amount that is based not on the current appraised value of the home but on the projected value after the repairs and improvements are completed. A 203(k) allows the borrower to finance up to $35,000 in nonstructural repairs, such as painting and replacing cabinets or fixtures.

Not all FHA approved lenders offer the same costs and interest rates. Call Premier Funding Network and let us share our expertise in this type of loan and lender. We will match the most advantageous loan to your individual needs and credit situation.

In many cases we find that the best solution for our client is to buy their house with the advantages an FHA loan offers and make the dream of home ownership come true. Then a little while down the line when their credit is improved, refinance into a more conventional loan for the best possible interest rate.


For many years, Premier Funding Network has helped homebuyers with a wide range of credit scores. Less-than-perfect credit, is something we see every day and we feel that it shouldn’t hold our clients back from achieving their home purchasing goals.

If you are in a situation where your credit is less-than-perfect, but are ready to make the big step into home ownership, call PFN at 714-283-9900 and talk to one of our mortgage specialists.

An FHA loan could be just the right option to get you into the home of your dreams.