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