HPP Home Loan

First Name :

Last Name :

E-mail Address :

State:

Select State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Day Phone:

Evening Phone:

Loan Purpose:

Select One Consolidate Refinance Purchase Rehab

Property Type:

Select One Single Condo Multi Manufactured

Property Value:

Select One Less than $80,000 $90,000 $100,000 $110,000 $120,000 $130,000 $140,000 $150,000 $160,000 $170,000 $180,000 $190,000 $200,000 $210,000 $220,000 $230,000 $240,000 $250,000 $260,000 $270,000 $280,000 $290,000 $300,000 $310,000 $320,000 $330,000 $340,000 $350,000 $360,000 $370,000 $380,000 $390,000 $400,000 $410,000 $420,000 $430,000 $440,000 $450,000 $460,000 $470,000 $480,000 $490,000 $500,000 $510,000 $520,000 $530,000 $540,000 $550,000 $560,000 $570,000 $580,000 $590,000 $600,000 $610,000 $620,000 $630,000 $640,000 $650,000 $660,000 $670,000 $680,000 $690,000 $700,000 $710,000 $720,000 $730,000 $740,000 $750,000 $760,000 $770,000 $780,000 $790,000 $800,000 $810,000 $820,000 $830,000 $840,000 $850,000 $860,000 $870,000 $880,000 $890,000 $900,000 $910,000 $920,000 $930,000 $940,000 $950,000 $960,000 $970,000 $980,000 $990,000 $1,000,000 Over $1,000,000

Mortgage Amount:

Select One $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $110,000 $120,000 $130,000 $140,000 $150,000 $160,000 $170,000 $180,000 $190,000 $200,000 $210,000 $220,000 $230,000 $240,000 $250,000 $260,000 $270,000 $280,000 $290,000 $300,000 $310,000 $320,000 $330,000 $340,000 $350,000 $360,000 $370,000 $380,000 $390,000 $400,000 $410,000 $420,000 $430,000 $440,000 $450,000 $460,000 $470,000 $480,000 $490,000 $500,000 $510,000 $520,000 $530,000 $540,000 $550,000 $560,000 $570,000 $580,000 $590,000 $600,000 $610,000 $620,000 $630,000 $640,000 $650,000 $660,000 $670,000 $680,000 $690,000 $700,000 $710,000 $720,000 $730,000 $740,000 $750,000 $760,000 $770,000 $780,000 $790,000 $800,000 $810,000 $820,000 $830,000 $840,000 $850,000 $860,000 $870,000 $880,000 $890,000 $900,000 $910,000 $920,000 $930,000 $940,000 $950,000 $960,000 $970,000 $980,000 $990,000 $1,000,000 Over $1,000,000

My Credit:

Select One Excellent Good Fair Poor

Bankruptcy In The Past 2-Years

Yes No

Foreclosure In Past 3-Years: Yes No

Security Code:

What if my credit is less than perfect?

Having less than perfect or even poor credit does not always mean that you won’t qualify for a government loan.  If you have a credit score of at least 580 or even 540 with compensating factors and can show that you have paid most of your accounts as agreed in the last twelve months then you should have no problem in getting approved for FHA/VA backed loans.  We have underwriters that will look at your loan application with a common sense approach.

What types of government loans are there?

Basically there are four types of government loans first there is FHA and in this type of loan you need a down payment on a purchase of 3.5% which can be a gift, you need a credit score of at least 580 or in some cases 540 with compensating factors.  If need be you can get a non owner occupied co borrower to help get qualified. Next there is the VA loan that allows for not only 0 down but also does not include a monthly MI payment.  Some banks require certain credit scores but 580 should work for most lenders.  Third there is the Rural program which also has a 0 down requirement with no monthly MI but there are income and a 620 credit score requirement.  Finally, there is a 203K or rehab loan where a borrower can get up to $35,000 in a purchase transactions for work to be done on the home being purchased such as interior exterior painting, siding, new roof, windows, appliances and in some cases structural work.

Can I obtain a government loan if I had a bankruptcy or foreclosure?

FHA guidelines require two years after the bankruptcy is discharges with no late payments subsequent to the bankruptcy and it is highly advised to reestablish credit by opening 3 or 4 credit cards either secured credit cards or otherwise.  With a Foreclosure three years after the date the foreclosure was completely finished.

Are the guidelines stricter for a house to qualify for a government loan?

In January of 2006 FHA has become less strict as to barriers that used to exist.  Generally as long as the house is safe for the homeowner to live in such as in a traditional mortgage than it will have no problem being approved for government financing.

Do I have to use a licensed FHA Lender?

Yes, only an FHA approved lender can help you attain financing for a government loan.  The guidelines have to be followed to the letter and only a licensed mortgage professional that has been trained and had enough experience can help a borrower t get this type of financing.

How long does the loan process take?

From the time the loan application is taken and signed and when all relevant documentation has been received by the loan specialist including the signed purchase agreement a loan can be closed from start to finish in usually 30 days and as little as 15 days or less in some cased.

Where can I get a government loan?

Government loans are simple to get and you will not even have to go to an office or even meet your banker, all you have to do is simple contact one of our loan specialists by calling or submitting a the short form and one of our loan specialists will contact you within 24 hours and you will be on your way to owning your first home with our simple easy process.

Can only 1st time homebuyers get a government loan?

FHA loans are available in all 50 states to not only 1st time homebuyers but also to those who have already owned a home and even received this kind of financing.  One caveat is that a borrower is only allowed one home at a time with this kind of financing and it can only be a primary residence.  For those who wish to refinance their home into an FHA loan this is also allowed. A person can also streamline their existing FHA loan into another as long as it lowers their monthly payment or is converted into a fixed rate from an FHA ARM.

 

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