Making Homeownership Accessible with FHA Loans
At Contemporary Mortgage Services, we offer FHA home mortgages designed to make homeownership more accessible for individuals and families. Backed by the Federal Housing Administration (FHA), these loans provide flexible qualification requirements, lower down payment options, and competitive interest rates — making it easier to achieve your dream of owning a home.
FHA loans are especially well-suited for first-time homebuyers, individuals with lower credit scores, and those with limited savings for a down payment.
FHA loans require as little as 3.5% down — one of the lowest down payment options available!
Benefits of an FHA Home Mortgage
Low Down Payment
As little as 3.5% down makes it easier to purchase a home with minimal upfront costs.
Flexible Credit Requirements
More forgiving of lower credit scores, allowing more people to qualify for a mortgage.
Competitive Interest Rates
Favorable rates that can save you money over the life of your loan.
Assumable Loans
FHA loans can be assumed by a future buyer, potentially making your home easier to sell.
Down Payment Assistance
Various state and local programs offer down payment and closing cost assistance for FHA borrowers.
Is an FHA Loan Right for You?
An FHA home mortgage might be the right choice if you:
- Are a first-time homebuyer
- Have a lower credit score or limited credit history
- Have limited savings for a down payment
- Want a loan with flexible qualification requirements
- Are looking for a competitive interest rate and affordable monthly payments
Our FHA Loan Options
FHA Purchase Loans
Buy a new home with a low down payment and flexible credit requirements.
FHA Refinance Loans
Refinance your existing mortgage to take advantage of lower FHA rates and better terms.
FHA Streamline Refinance
A simplified refinance for current FHA loan holders with reduced documentation and faster processing.
FHA 203(k) Rehab Loans
Finance the purchase and renovation of a home with a single loan — perfect for fixer-uppers.
The Application Process
Securing an FHA home mortgage with Contemporary Mortgage Services is straightforward and hassle-free:
-
Consultation — Speak with one of our experienced Loan Originators to discuss your financial situation and determine the best FHA loan option for you.
-
Prequalification — Get prequalified to understand your borrowing potential and find out how much you can afford.
-
Application — Complete the mortgage application with our team's guidance, ensuring all necessary documentation is provided.
-
Approval — We'll process your application and, once approved, lock in your loan terms.
-
Closing — Sign the final documents and enjoy the benefits of your FHA home mortgage.