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Hard Money Lender 310-478-5005 | Mortgage Broker Los Angeles CA

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(310) 478-5005

Los Angeles FHA Loans

fha loans los angeles

Planning to purchase your first home in Los Angeles? You’ve made a wonderful choice. Here you have a chance to be part of a booming job market while enjoying the sunshine and the glamour of the Entertainment Capital of the World.

Buying your first home can be a complex process, and if you do not have perfect credit or a long credit history, a standard conventional loan may not be the most suitable choice. There is a loan product designed just for you, called an FHA loan. With an FHA loan, you can enjoy excellent benefits such as a low down payment and low interest rates.

FHA Loan Los Angeles Benefits

“FHA” is short for the Federal Housing Administration, the government body that insures FHA loans. FHA loans are tailored specifically to the needs of first time homebuyers.

Because they are insured, they reduce the risk to lenders, who in turn are willing to offer you favorable terms and low interest rates. Here are the advantages of an FHA loan:

  • With an FHA loan, your down payment is just 3.5%.
  • Your interest rate and closing costs will both be lower with an FHA loan than a conventional loan.
  • You will find more loan opportunities available to you than you might otherwise, especially if your credit score is low.
  • FHA loans are available not only for purchase, but also for construction or renovation. FHA reverse mortgages are available to seniors as well.

Do You Qualify for a Los Angeles, CA FHA Loan?

To be eligible for an FHA loan in Los Angeles, you need to meet the following requirements:

  • If you are obtaining an FHA loan to purchase or build a home, you must be a first time homebuyer in Los Angeles.
  • Your debt-to-income ratio should be 43% or lower, but this is not a rigid rule.
  • Your FICO score must be 580 or above in order to qualify for an FHA loan with a 3.5% down payment. What if it is lower? You might still be eligible for an FHA loan, but your down payment will be higher.
  • The property you are purchasing must also be eligible for the FHA loan.

Pacshores Can Help You Move into Your First Home Quickly and Affordably With a Los Angeles FHA Loan

How can you be sure you meet the requirements to qualify for an FHA loan, or that an FHA loan is the best choice? We have assisted many first time homebuyers throughout Los Angeles to assess their eligibility and apply for an FHA loan successfully. Give us a call at 310-478-5005. We can discuss your situation, answer any questions you have about FHA loans in Los Angeles or the home buying process, and help you apply for an FHA loan to purchase your first home.

Do you have questions?

Call us today (310) 478-5005 or fill in form below and we will get back to you as soon as possible.

When you click “Submit” you give your consent to our privacy policy and acknowledge that we may contact you via sms to discuss loan options. However, your consent is not a requirement for receiving our services, and you may withdraw it at any time.

Client Testimonials

Thanks PacShores for coming through for me in the nick of time. After our Parents passed away and left the small apartment units that I was living in to me and my two siblings, they needed to get out their portion of the inheritance and were determined to force me to sell the units. I needed to keep the property for my family and avoid selling in such a down Market. My Income was low and the Banks refused to accepts the Rental Income from the other Tenants and to approve my loan. It wasn’t a problem when I contacted PacShores, they funded my loan in no time, paid off my siblings, hassle free, and I am very glad I found them.

Tony – Orange, California

 

I took over some Apartments that my Dad owned and had been renting out over the years. Some of the tenants had been there for 10 years and more, the Properties have gotten in disrepair, and the County had also filed substandard violation Liens on the Properties. All the Lenders that I had applied to for a Cash-Out Loan, turn down my application due to the condition of the Properties. With the help of the Loan Officers at PacShores, we were able to customize a loan for me that set aside funds to complete the needed repairs, and clear up all the Substandard Notices and Liens on the Properties, and the extra cash that I needed.

Tracy – Los Angeles, California

 

Hi, I am Real Estate Broker, and Short Sale specialist, and I had very well qualified Buyer with almost 50% cash down payment, under contract on a highly discounted Investment Property purchase. After 3 weeks of getting the runaround with their Bank including my regular Lenders that I normally use, I was convinced they would lose out on this great deal. Luckily an associate referred me to PacShores Mortgage, and within 24 hours they drove buy the property, and had Closing Documents in Escrow by the third day and funded the loan right after. They saved this deal for us. I couldn’t thank them enough and would use and recommend them to all my associates in the future.

Javier – West Covina

 

Hello, our Credit Scores had become so low after we went through a Loan Modification process and Short Sale on our previous house. Thereafter, we couldn’t find a Bank willing to consider us for a new Home Loan, even though we had substantial funds for a Down Payment. The folks at PacShores Mortgage were very understanding and glad to review and approve our loan application. Thanks to them, we are proud owners of a new, more affordable four Bedroom house again.

Susan – Fresno, California

 

My wife and I own a successful and profitable Business, and also own a number of Rental Units. Due to the Freeze in Bank Lending we decided to refinance one of the Rental Units we own outright, to access the credit we need to efficiently run our Business. Unfortunately due to the write-offs we show on our Tax Forms, the Banks we contacted were misreading our Income and cash flow and declined to approve our loan application. Our experience was different at PacShores, the easily identified our true Income and approved our loan promptly, and we didn’t even need to provide them any Tax Returns.

Cindy – San Diego, California

 

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11400 W Olympic Blvd #830

Los Angeles, CA 90064

(310) 478-5005

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NMLS: 366402
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