FHA mortgage loans are an excellent source of financing in the State of Nevada. FHA loans are a government insured loan that tends to be a little more lenient credit-wise than traditional Fannie Mae financing. With purchase money financing with just 2.25% down and cash-out refinancing up to 95% of the value of your home, FHA mortgage financing may be your best bet. FHA financing also allows gift funds as the down payment for purchase money transactions. Contact your mortgage professional at 414-303-1215 or via e-mail at msearing@mayfairmortgage.com.

FHA allows for financing just 2 years after the discharge of a Chapter 7 Bankruptcy, provided you have re-established good credit. You may refinance out of a Current Chapter 13 Bankruptcy payment plan provided you have the trustee's permission, a timely mortgage history, and a timely payment history on your bankruptcy. You must have had the payment plan for at least 1 year.

If you own a mobile home on a permanent foundation in the State of Nevada you may be eligible for FHA Financing. You must own the land as well and the mobile home must been constructed after June 15, 1976. FHA financing allows for singlewide, doublewide, and triplewide financing.

Maximum FHA loan limits in Nevada for single family homes range from $200,160 to $362,790, depending on the county in which the property is located. FHA Loan limits are higher for mult-family properties. Consult your mortgage professional at 414-303-1215 for more details.

 

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