Why choose an FHA loan? If you’re a first-time homebuyer, don’t have a large down payment, have credit inadequacies, or are worried about monthly payments, an FHA loan might be your ideal option. Offered through traditional lenders and insured by the FHA against default, FHA loans open up real possibilities and flexibility for your home buying plans. Additionally, interest rates are competitive, only 3% down payments are required, and all types of credit are accepted. You may use an FHA-insured mortgage to purchase or refinance a new or existing 1- to 4-unit home, a condominium or a manufactured or mobile home (provided it is on a permanent foundation).
Disclaimer
Fixed Rate Mortgage/Adjustable Rate Mortgage Conforming
APR's are based on a $200,000 loan for a purchase transaction
of an owner occupied, single-family residence with an 80% loan-to-value ratio (97% LTV for FHA’s).
Rates must be valid for an applicant with a 740 FICO score. Rates are subject to change without notice.
Quotes are for "no cash-out" loans. All quotes are for conforming products or loans that can be sold on the secondary market with no prepayment penalties nor negative amortization.
Fixed Rate Mortgage/Adjustable Rate Mortgage Jumbo
Rates and fees are based on a $450,000 loan for a purchase transaction
of an owner occupied, single-family residence with an 70% loan-to-value ratio.
Rates must be valid for an applicant with a 740 FICO score. Rates are subject to change without notice.
Quotes are for "no cash-out" loans. All quotes are for conforming products or loans that can be sold on the secondary market with no prepayment penalties nor negative amortization.
Illinois
