DC FHA Lender
District of Columbia FHA loans are home loans insured by the FHA (Federal Housing Administration) which give District of Columbia borrowers the opportunity to secure DC home loans, when they don’t quality for other conventional loans. For example, future District of Columbia homeowners with little credit history or poor credit history are sometimes able to qualify for District of Columbia FHA loans.
Financing with FHA
DC FHA loans are ideal for first-time District of Columbia homeowners due to low down-payment requirements and flexible qualifying guidelines.
Refinancing with FHA
FHA also offers a refinancing option for District of Columbia homeowners where it’s possible to refinance up to 97.5 percent of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85 percent.
FHA Loan Requirements – District of Columbia
- No income limit
- DC borrower credit score flexibility
- 3.5 percent down payment on District of Columbia Purchase Loans
- Bankruptcy: DC FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: Washington DC FHA loans can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
District of Columbia (DC) FHA Loan Limits
FHA loan limits in District of Columbia vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties in District of Columbia), etc. Please contact Home Point Financial’s District of Columbia FHA loan experts for details on loan limits for FHA loans in District of Columbia (DC). Contact Home Point Financial to learn more about FHA Loans throughout District of Columbia.
