FHA loans in Seattle feature no income limits, low down payment, and are insured by the Federal Housing Administration. Down payments can be as low as 3.5% for some single-family homeowners. FHA loans are becoming increasingly popular as an attractive option for first-time home buyers.
Why Choose an FHA Loan?
Many people believe that FHA loans are just for first-time buyers, but these Seattle loans are available to qualified borrowers who have previously owned a home as well! The less stringent criteria makes them a realistic option for those with historical credit problems or less than traditional credit.
Even though the requirements are less strict, FICO scores are still evaluated in 98% of cases. In order to qualify for an FHA loan with a down payment as low as 3.5% the borrower will need a minimum score of 580.
If you are concerned that your credit score may be below 580, please contact a Loan Originator to discuss your personalized options.
American Equity Mortgage FHA Loans
American Equity Mortgage has the local experience to help you get to a better place in Seattle. Our team is proud to serve Seattle and the surrounding metro areas in Washington, including: Bellevue, Tacoma, Kirkland, Northgate, Shoreline, and Ballard.
Considering an FHA loan in Seattle? Contact a Loan Originator today and take a moment to fill out an online application to find out if you qualify for competitive rates.
American Equity Mortgage helps those in Seattle and throughout Washington Get To A Better Place.