FHA loan
Belcamp Maryland

FHA Loan Belcamp Maryland Benefits:

* Only 3.5% Down Payment
* Low interest rates
* Fast Closing – As fast as 17 Days
* If you have not purchased a house in 3yrs or
* Best for first time home buyers
* FHA Loan from 3.5% Down, HomeReady 3% Down.

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FHA Loan Belcamp Maryland- Maryland’s #1 FHA loan lender. We are helping borrowers in Belcamp qualify for the best FHA home loan to meet their borrowing requirements. FHA loans starting with just 3.5% down payment. Apply today!

FHA Loan Belcamp Maryland

CambridgeHomeLoan.com provides FHA loans for purchases, refinancing and cash out refinancing.

FHA Loan Requirements Belcamp Maryland

  • FICO score of at least 580 for a 3.5% down payment
  • A credit score of 500 to 579 for a 10% down payment
  • Mortgage insurance that is offset due to lower FHA interest rates than a conventional loan.
  • FHA Debt to income ratio of 50% or less

Qualify for a 3.5% down FHA Home Loan. Use this application to prequalify and start shopping for your FHA Loan in Belcamp Maryland today! Purchase, Refinance, Cash Out Refinance.

Prequalify now to see how much of an FHA Home Loan you can qualify for. 

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Benefits of an FHA Home Loan in Belcamp Maryland

FHA Home Loan Are Easy As 1-2-3

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FHA Loan Q&A Everything You Wanted To Know about FHA Loan

A Bankruptcy does not automatically disqualify a borrower from receiving an FHA loan. If your bankrupcy was discharged 2 years ago you may be eligible today for an FHA loan program. If you bankruptcy was discharged less than two years ago and you have extenuating circumstances you might still be eligible to qualify.  You can find out more by applying here!.   Same rule applies for borrower with chapter 13 bankruptcy.

A chapter 13 has some different requirements as a chapter 13 bankruptcy may still qualify if the  lender is willing to do a manual underwriting and the borrower has a satisfactory history of payments under their Ch 13 pla.

Bankruptcy does not automatically disqualify a borrower from receiving an FHA loan Florida. If your bankrupcy was discharged 2 years ago you may be eligible today for an FHA loan program. If you bankruptcy was discharged less than two years ago and you have extenuating circumstances you might still be eligible to qualify.  You can find out more by applying here!.   Same rule applies for borrower with chapter 13 bankruptcy.

A chapter 13 has some different requirements as a chapter 13 bankruptcy may still qualify if the  lender is willing to do a manual underwriting and the borrower has a satisfactory history of payments under their Ch 13 plan.

Charge-off accounts are not included in borrowers’ debt.

 

For non-medical collection accounts when the cumulative outstanding balance is greater than $2,000 borrower may either pay-off the balance or, for the purpose of debt-to-income ratio (DTI), provide proof of a payment plan. If neither are an option, the lender must use 5% of the outstanding balance and include it in the borrower’s DTI calculation.

 
 
 

Delinquent child support must be paid current or in a payment plan.

 
 
 
 

Borrowers with delinquent tax debt are ineligible unless currently in payment plan.

 
 
 
 
 

Borrowers with delinquent tax debt are ineligible unless currently in repayment plan. Repayment plan tax liens are not required to be paid in full if documentation is provided indicating the borrower is in a valid payment plan.

The following is required:

  1. The borrower must have made a minimum of 3 months of scheduled payments and documentation of the payments is required.
  2. The payment must be included in the DTI / Debt to income calculation.
  3. The borrower cannot prepay the payments to meet the 3-month payment requirement NOTE: Borrowers with delinquent taxes may or may not have a tax lien. Borrowers currently in a repayment plan, and the IRS has not filed a tax lien, are not required to meet the minimum 3-month payment requirement. The payment to the IRS will be included in the DTI calculation.

Foreclosure waiting period is measured from the date of title transfer. Three (3) years must have elapsed from the time title transferred. If the foreclosed loan was an FHA loan, the 3-year waiting period is based on the date the FHA claim was paid (e.g. foreclosure 11/12/14, FHA claim dates was 7/12/15, the 3-year waiting period ends 7/13/18).

Borrowers with foreclosure/Deed in Lieu within 3 years of case number assignment that was due to documented extenuating circumstances may be eligible if the borrower has re-established good credit since the foreclosure. A downgrade to manual underwriting is required. If the foreclosure was included in the bankruptcy, the foreclosure waiting period still applies. HUD treats the foreclosure and Bankruptcy  independently, not as a single event.

The three-year waiting period from date of title transfer still applies unless they were current at the time on short sale. Speak to your loan officer for specifics. 

 

The Maximum debt-to-income (DTI) ratio varies based on overall credit history and assets.  Typically, the DTI cannot exceed 45% of the borrower’s gross income.  However, in some cases borrowers with as high as 54.9% DTI may be eligible and in other cases borrowers may be capped at 43% DTI. Due to our volume size we can allow for higher DTI which enables you to receive a higher loan amount even if you have significant debt. 

 

Borrowers with student loans that are in deferment or not fully amortized will be required to calculate 1% of the outstanding balance as minimum monthly payment that will be added in their debt-to-income ratio (DTI) calculation.

The Maximum debt-to-income (DTI) ratio varies based on overall credit history and assets.  Typically, the DTI cannot exceed 45% of the borrower’s gross income.  However, in some cases borrowers with as high as 54.9% DTI may be eligible and in other cases borrowers may be capped at 43% DTI. Due to our volume size we can allow for higher DTI which enables you to receive a higher loan amount even if you have significant debt. 

 

WHY FHA HOME LOAN BELCAMP MARYLAND?

About Belcamp Maryland

Riverside is a census-designated place (CDP) in Harford County, Maryland, United States. The population was 6,425 at the 2010 census. The term “Riverside” is generally used interchangeably with “Belcamp”; both names are accepted for the U.S. Postal Service’s ZIP Code of 21017. However, the original community of Belcamp is located south of U.S. Route 40, outside the Riverside CDP.

Belcamp is in the 61st percentile for safety, meaning 39% of cities are safer and 61% of cities are more dangerous. The rate of crime in Belcamp is 22.68 per 1,000 residents during a standard year. People who live in Belcamp generally consider the southwest part of the city to be the safest.

Major Attractions in and around Belcamp, MD

  • Anita C Leight Estuary Center (Estuary)
  • Maryland House Travel Plaza
  • Belcamp Beach (Beach)
  • Sophia’s Dairy
  • Perryman Park
  • Leight Park

FHA home loan

WHY FHA HOME LOAN BEL AIR MARYLAND?

About Bel Air Maryland

The town of Bel Air is the county seat of Harford County, Maryland, United States. According to the 2010 United States Census the population of the town was 10,120. Bel Air features hot, often humid summers, mild, wet springs, pleasant falls and cool to chilly winters.

Bel Air is in Harford County and is one of the best places to live in Maryland. Living in Bel Air offers residents a dense suburban feel and most residents own their homes. Many young professionals and retirees live in Bel Air and residents tend to lean conservative. The public schools in Bel Air are highly rated.

Major Attractions in and around Bel Air, MD

  • Ma & Pa Heritage Trail
  • Rockfield Park (Gathering place with a big playground)
  • Hays House Museum (Cozy home depicting early American life)
  • Historical Society of Harford County (History)
  • Bynum Run Park (Park and garden)
  • Bel Air Courthouse Historic District

FHA home loan

Maryland’s #1 FHA Loan Lender – First Time Home Buyer Experts

View and learn more about our investment and commercial financing at CambridgeCapital.org