Voyage Home Loans is a direct lender with the Federal Housing Administration, specializing in obtaining insured FHA loans for qualified borrowers. Some qualifiers for an FHA loan includes, but is not limited to, first-time home buyers, borrowers who want to maintain a low monthly payment, and borrowers who don’t have perfect credit.

To qualify for FHA loans, borrowers must meet the requirements for income, debt-to-income ratios, maximum loan amounts, and other details.

Contact us today and we’ll help you get the best FHA loan for your situation.

Why Should You Choose an FHA Loan?

• Low Cost.
  The loans are federally-insured, and maintain competitive interest rates.
• Low Down Payment.
  The down payment can be as low as 3.5 percent of the selling price of the house, and it can include gifted funds from a family member, employer, or charitable organization.
• Easy Qualifiers.
  With an FHA-insured loan, lenders may give borrowers loan terms that make it easier for them to qualify.
• Perfect Credit Not Needed.
  Compared to a conventional loan, an FHA-insured loan does not require perfect credit. It’s easier to qualify for an FHA loan even if borrowers have credit issues.
• Protection Against Foreclosure.
  If borrowers encounter problems maintaining monthly house payments, FHA provides alternatives so that they can still keep their home.

FHA Loan Options:

• Fixed-rate loans.
  Fixed-rate loans can bring borrowers peace of mind, because they guarantee the same interest rate and monthly payment, throughout the life of the loan.
• Adjustable-rate loans.
  An adjustable-rate loan is a good option for borrowers who plan to only own their home for a short period of time, or who expect their income to increase in the future. The initial interest rate and down payment with adjustable-rate loans are low, but may increase or decrease throughout the loan period, as FHA calculates the interest rate by using the 1-Year Constant Maturity Treasury Index (CMT). These loans are advantageous if the prevailing interest rate for a fixed-rate mortgage is too high.
• Purchase/rehabilitation loans.
  Borrowers have the ability to purchase a home, repair it, and include all the costs with these loans. They are also a good loan option for borrowers who want to buy a home that needs to be remodeled or repaired, and want to pay only one mortgage payment.