FHA loans are home loans insured by the FHA (Federal Housing Administration) which give Georgia borrowers the opportunity to secure home loans, when they don't quality for other conventional loans. For example, potential Georgia homeowners with little credit history or poor credit history are sometimes able to qualify for Georgia FHA loans.
Georgia FHA Loans for First Time Homeowners
FHA loans are ideal for first-time homeowners due to low down-payment requirements and flexible qualifying guidelines.
Refinancing with FHA Loans in Georgia
FHA also offers a refinancing option for Georgia homeowners where it's possible to refinance up to 97.5% of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85%.
FHA Loan Requirements - Georgia
- No income limit
- Borrower credit score flexibility
- 3.5% down payment on Purchase Loans
- Bankruptcy: GA FHA loans can be obtained as HA Loan Limits
FHA loan limits in Georgia vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties), etc. Please contact Home Point Financial for details on loan limits for FHA loans in Georgia.