FHA Loan Elkridge- Buy Home with 3.5% Down Payment FHA Home Loan

FHA loan Elkridge Maryland

The Best FHA Home Loan Rates!

We are Elkridge Maryland’s #1 FHA loan lender. We are helping borrowers in Elkridge qualify for the best FHA loan to meet their borrowing requirements. An FHA loan is a government backed mortgage insurance by the Federal Housing Administration (FHA). Popular with first time homebuyers, FHA loans require lower minimum credit scores and low down payments.

FHA Loan Requirements Elkridge Maryland

A credit 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 Elkridge Maryland today! Purchase, Refinance, Cash Out Refinance.

According to an announcement by the FHA the loan limit for 2022 will be $420,680 for most of the country. The 2022 FHA loan limit for the high cost areas will be $970,800. Not just Elkridge, we are the best FHA Loan Maryland lender.

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

Get Your Pre-Qualification Letter in 15 minutes

Benefits of an FHA Home Loan in Elkridge Maryland

Low down payment with a minimum of 3.5% down payment
Lower credit scores. Down to 580 to for 3.5% down payment
Great for first time home buyers.
An Federal Housing Administration, FHA provides a guarantee loans to the lender who is actually extending the loan.
To apply for an FHA loan, you'll need to provide your Social Security number, two years of tax returns and employment verification.
FHA loan payments should be equal to or less than 31% of a borrower’s income. If a borrower has debt, the combination of debt payments and mortgage payment should equal 43% or less of the borrower’s income. The lender may make some exceptions to this rule. We can allow for a ratio of 50% DTI
To apply for an FHA loan, you'll need to provide your Social Security number, two years of tax returns and employment verification.

About Elkridge Maryland

Elkridge is located close to the center of Maryland. Elkridge is part of Howard County. Founded early in the 18th century, Elkridge is located at the confluence of three counties, the other two being Anne Arundel and Baltimore counties.

Elkridge is in Howard County and is one of the best places to live in Maryland. Living in Elkridge offers residents a dense suburban feel and most residents own their homes. Many families and young professionals live in Elkridge and residents tend to lean liberal. The public schools in Elkridge are highly rated.

Major Attractions in and around Elkridge, MD

Live! Casino & Hotel Maryland (24-hour spot for slots & table games)
Rockburn Branch Park (Nature hiking, ball fields & picnic spot)
Patapsco Valley State Park – Avalon Area (Trails, waterfalls & a swinging bridge)
Rockburn Skills Park (Park and garden)
Washington Boulevard
Historic Troy Manor

EXPERT REAL ESTATE AND HOME LOAN ADVICE

Uncategorized

Veteran benefits – The VA home Loan Buyers Guide

About Home Loans The VA (Veterans Administration), helps Veterans, current Service members and eligible surviving spouses become new homeowners. As part of the CambridgeHomeLoan.com mission

November 1, 2021 No Comments

Uncategorized

Commercial Bridge Loan

Commercial Bridge Loans A Commercial Real Estate Bridge Loan is defined as a short-term real estate loan for a Commercial Property – such as a retail store,

October 11, 2021 No Comments

Uncategorized

First Time Home Buyer

Are you a first time home buyer that’s wondering if you can qualify for your first home. First time home buyers typically have information thrown

September 26, 2021 No Comments

Uncategorized

First Time Home Buyer Loan Options

One of the biggest hurdles for first-time home buyers is financing their purchase. Thankfully, there are numerous loan products and down-payment assistance programs designed to

August 3, 2021 No Comments

Uncategorized

Multifamily Loans – Up to 100% Financing

Thinking about taking your real estate investing to the next level and investing in multifamily properties. Multifamily loans can help take your investment portfolio to

July 17, 2021 No Comments

Fix and Flip Investment Loan

Investment Loans For House Flipping

Fix and flip loans, Investment loans for house flipping are a great loan product when you want the advantage in convincing an owner to go

July 12, 2021 No Comments

First Time Home Buyer

FHA Home Loans For First Time Home Buyers

First Time Home Buyers today can purchase a home with as little as 3% down. Learn more below. FHA first-time homebuyer loans offer a low down payment, reduced interest,

April 27, 2021 No Comments

VA Home Loan

What Are The Minimum Property Requirements For A VA Home Loan?

Minimum Property Requirements (MPRs) For A VA Home Loan MPR’s VA has established Minimum Property Requirements (MPRs) to protect the interests of Veterans, lenders, servicers,

April 25, 2021 No Comments