FHA mortgage North Dakota is your ticket to owning a home by meeting only a few, simple pre-qualifications. These include having a credit score of 620, remitting a down payment of 3.5% and residing in the new property as your primary home. This is besides the fact that you can apply even after past the foreclosure of your property or even financial insolvency. Application is made even easier thanks to the help of the FHA Home Loan Group.
Post-Bankruptcy Application
You can apply for post-bankruptcy FHA mortgage ND under the following circumstances:
- If you have settled any outstanding balances and obtained a certificate of clearance dating back two years down the line.
- If the foreclosure action took place 24 months to date and you have no outstanding title contention or any other balance pertaining to the aforementioned auction.
You may find it interesting that FHA mortgage North Dakota is the only program that allows you to apply even when you have suffered bankruptcy in the past!
Who Qualifies For the Program?
You can qualify for this financing program if you have met these few requirements:
- You have no outstanding debts, including credit card or other loan programs.
- You intend to move to the property as your primary residence.
- You have a credit score of 620. We can make this as low as 580 as certain lenders accept this low value.
Benefits of FHA mortgage ND
This program comes with the following direct benefits that we can help you avail when you are applying via the FHA Home Loan Group:
- A marginally low down payment of 3.5%. This is the most minimal in the state, with the exception of the zero-money down offers by USDA and VA, the two other government programs.
- You can refinance Upfront Mortgage Insurance Premiums to 0.1 percent. Originally, this premium comes at 1% of the entire borrowed amount.
Additionally, you can co-opt with another applicant even if the latter does not reside in the property in question in order to share the cost of FHA mortgage ND. There is also the provision for having a co-signor, normally a spouse, to provide a guarantee of repayment, which can hasten the loan process.
How to Make Your Application
When you apply for FHA mortgage ND with Fhahomeloangroup.com, you will need to follow these few guidelines:
- Submit your loan request and pass the fast pre-qualification test.
- Find a qualified lender with a competitive interest rate.
- Get approval from the Housing Department (HUD).
- Settle closing fees, with 6 percent coming from the seller.
If all you want is a program that allows applicants to obtain financing even when they have suffered bankruptcy in the last two years, then FHA mortgage North Dakota is your best bet. As opposed to the traditional programs, you need to only pass a few credit score and income stipulations, which are quite flexible with this program. You can count on our experts to provide ready advice to enable you own a home in this state.
For immediate assistance, call us today!