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