What Are FHA Loans in Westlake Village?
Elite Financial offers an array of VA (Veterans Affairs) and FHA (Federal Housing Administration) loans in Westlake Village, CA. These unique government loans offer tremendous advantages over conventional financing. Some of these include:
- A smaller or no down payment
- Lower FICO credit score requirements or possibly no FICO score-related requirements
- More liberal qualifying criteria such as higher debt-to-income ratios and the source of the down payment (the entire down payment can be a gift)
These FHA and VA loan products include both fixed rate and adjustable loans in Westlake Village, CA. A hybrid adjustable loan is also available, which is a fixed loan for the first five years prior to adjusting.
Benefits of FHA Loans in Westlake Village, CA
How Do FHA Loans Work?
FHA Loan Qualifications
- Borrowers often must have a minimum FICO score of 580
- The down payment can be as low as 3.5% of the purchase price
- Gift funds can be used to cover 100% of the closing costs and down payment
Why Choose Elite Financial?
Elite Financial has been providing mortgage-lending services to homebuyers, homebuilders, and real estate professionals in California for more than 25 years. Elite Financial offers a number of diverse home loan options with the most competitive rates in the business. Learn more about FHA loans in Westlake Village for first-time homebuyers from the U.S. Department of Housing and Urban Development. For more information or to apply for an FHA Loan in Westlake Village, contact Elite Financial today.
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Loans are subject to credit and property approval. Availability of programs is subject to change without notice.