Why Choose an FHA Loan?

FHA loans provide a low down payment option of 3.5%, making homeownership more accessible. They feature flexible credit requirements and competitive interest rates, offering significant savings over time. Additionally, closing costs can often be covered by sellers or lenders, reducing out-of-pocket expenses. These benefits make FHA loans ideal for first-time buyers and those with lower credit scores.

Benefits of FHA Loans

Choosing an FHA loan comes with a range of benefits designed to make the homebuying process smoother and more affordable:

Easier Qualification

FHA loans are more forgiving with credit scores and financial history, making them accessible to a wider range of borrowers.

Lower Down Payment

With a down payment as low as 3.5%, you can buy your home sooner and keep more savings in your pocket.

Assumable Loans

FHA loans are assumable, meaning you can transfer the loan to a new buyer if you decide to sell, potentially making your home more attractive to buyers.

How to Qualify for an FHA Loan

To qualify for an FHA loan, you need a minimum credit score of 580 for a 3.5% down payment. Borrowers with credit scores between 500 and 579 can qualify with a 10% down payment. You must demonstrate a steady income and employment history, with a debt-to-income ratio of 43% or less. FHA loans are for primary residences only.

Contact us today

Ready to explore your FHA loan options in San Diego? Our team at Thomas Harris Mortgage Solutions is here to help you every step of the way. Contact us today to schedule a consultation and start your journey toward homeownership.

John’s Success Story

John, a first-time homebuyer, dreamed of owning a home in San Diego but was concerned about his credit score and the down payment requirements. He reached out to Thomas Harris Mortgage Solutions and discovered the benefits of FHA loans. With our guidance, John secured an FHA loan with a low down payment and favorable terms, enabling him to purchase his dream home without financial stress. Today, John enjoys the stability and pride of homeownership in beautiful San Diego.

Why choose us

Expertise and Experience

With extensive knowledge of the mortgage industry, Thomas Harris brings a wealth of experience to help you navigate the complexities of home financing.

Personalized Service

We believe in a personalized approach, taking the time to understand your financial situation and goals to offer the best mortgage solutions.

Transparency and Integrity

Honesty and transparency are at the core of our business. We ensure that you are fully informed and confident in your decisions throughout the mortgage process.

Comprehensive Support

From pre-approval to closing, we provide comprehensive support and resources to make your home buying journey seamless and enjoyable.

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