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