Sonoma County Home Loans

The Federal Housing Administration insures mortgages and is managed by the federal department of Housing and Urban Development (HUD).  FHA doesn't make loans, but creates the guidelines by which they will insure the mortgage.  FHA financing has some real advantages for anyone putting down less than 20% on a home purchase, or refinancing with less than 20% equity ownership in their home.

FHA Highlights

• Perfect for first time home buyers and new college graduates
• 3.5% minimum down payment
• Gift funds allowed for  down payment
• Non-occupant co-borrowers allowed
• Credit leniency with FICO scores down to 580
• Owner occupied properties only
• Can close within 30 days
• Local appraisers used
• Loans up to $662,500 in Sonoma County