Sierra County FHA Loans
Make Borrowing a Breeze!
Sierra County FHA loans make it easier for Sierra County homebuyers with little to no money down or those with less than perfect credit to purchase a new home. Typical FHA loans require a minimal down payment of 3.5% but when combined with various other home buyer programs it is possible to purchase with a Zero Down Loan.
The Federal Hosing Authority (FHA) has been insuring loans since 1934. By backing or insuring the loans, the FHA program allows lenders to provide mortgages with lower down payments, lower closing costs, and easier credit requirements.
There are California FHA loans available for Sierra County borrowers that fall within a wide range of credit criteria including scores as low as 580 and home buyers who have experienced previous bankruptcies, foreclosures, or even short sales. Alternative credit may be used for applicants that do not have established traditional credit. Alternative credit may be in the form of utility bill history, proof of rental income, and private loan ledgers.
Sierra County FHA loans are available for single family residences as well as condos, townhomes, and there are programs for mobile homes and manufactured homes. There is an FHA loan program for home buyers purchasing a manufactured or mobile home on land and another for homebuyers purchasing a mobile or manufactured home in a park.
No Obligation Required!
Complete the information below, and a Sierra County FHA Loan consultant will contact you to discuss the programs and options available to you.
FHA Energy Efficient Mortgage Program allows Sierra County California home buyers to finance the costs making their new home more energy efficient.
Borrowers 62 years and above may take advantage of the reverse mortgage program for either tapping into their current home equity or purchasing a homes with a substantial down payment and no additional payments for as long as they live in the dwelling. For additional information on Sierra County California FHA loans, complete the short information form and an FHA loan counselor will contact you to discuss the programs that may best assist you.
Do You Need Down Payment Assistance?
It’s easier than ever to purchase a Sierra County home with our EZ Qualify Down Payment Assistance Program. Sierra County Home Buyers who qualify may purchase a single family house, condo, or townhome and receive 3.5% down payment assistance. To qualify, you must meet the following criteria:
- Credit Score of 620 or Above
- No Foreclosures, Bankruptcies or Short Sales within the Past 3 Years
- Ability to Prove Income
- Ability to show tax returns for past 2 years
- Debt to Income Ratios within FHA Guidelines
- Underwriting Approval
You will not be disqualified on this program if you make an income above the county average income, as this program was developed as a way to assist a greater number of home buyers. Sound exciting? It Is! Complete the information form on this page and get ready to learn more and begin the process.