FHA Loans
in Oakhurst, CA

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You do not need a perfect credit score to purchase a home in California. If you are eligible for an FHA mortgage, you can look forward to affordable rates, flexible terms and a low down payment.

What is an FHA Mortgage?

An FHA home loan is a lending product which is insured by the Federal Housing Administration (FHA). By backing your mortgage, the FHA offsets risk factors such as a credit score which is not ideal. This helps qualify you for a more affordable loan than you might otherwise be eligible for.

Benefits of FHA Loans in California

What are some of the advantages of FHA mortgages?

Mortgage rates for FHA loans are affordable even without perfect credit.

FHA loans carry lower down payment requirements than many competing lending products, particularly when your credit score is taken into account. Even if your score is as low as 580, you can buy a home with just 3.5% down.

Your closing costs will be capped or they will be covered by the seller.

You can pick whether you would like a fixed rate or adjustable rate for your FHA loan.

You do not need perfect credit to qualify for the benefits of FHA financing. DTI ratio requirements are also relaxed.

FHA loans are available for home purchase, construction, refinance, upgrades or repairs.

Are You Eligible for an FHA Mortgage in Oakhurst, CA?

Who is eligible for FHA loans? Contrary to popular belief, these mortgages are not only for first time homebuyers. Both first-time and repeat homebuyers may qualify.

Following are the requirements you need to meet:

To qualify to put 3.5% down, your credit score must be a minimum of 580. To qualify to put 10% down, the minimum credit score requirement is 500.

The maximum debt-to-income ratio is 56.9%.

Steady employment for at least the two most recent consecutive years is required to qualify for an FHA mortgage.

A clear credit alert interactive voice response system (CAIVRS) report must be furnished.

When you purchase a home with an FHA mortgage, you will be required to pay for private mortgage insurance (PMI) on a monthly basis. Make sure that you have room in your budget for PMI payments before applying.

FHA mortgages are available for primary residences only, not for second homes or investment properties.

So long as the waiting period has elapsed, a bankruptcy or foreclosure on your record will not prevent you from qualifying for an FHA mortgage.

Apply for a Flexible, Affordable FHA Mortgage Today

Ready to purchase a home with the 3.5% down, affordable interest rates, and easy credit qualification requirements? Call us now at 559-540-2275 to schedule your free FHA mortgage consultation in California.

Get Pre-Approved Today!

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Granite West Funding, LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

Melissa De Graaff

21:27 17 Oct 24

We cannot say enough wonderful things about working with Eric Wood at Granite West Funding. We went into the situation not knowing much about the process. Eric helped us (while educating us) every step of the way!! We highly recommend Eric and his entire team, they were all fantastic, hardworking and a very kind group of people!!

Krissi O

13:52 08 Jul 24

Granite West has been our "go to" on several occasions and never disappoint! Quick results and always professional! Highly recommend!!!

Tammi Chumney

17:22 14 Feb 23

My husband and I just bought our first investment property and it is fabulous!!It was a very unique situation that demanded a lot of precise attention to details. Eric Wood was there every step of the way! Him and his team at Granite West funding are amazing professionals and very kind hearted people to work with. :) I just can’t say enough about our seamless experience with Eric Wood. Thank you to Jackie as well! We will be a regular clients for future investments and lending needs. Big thank you to you all from the Chumney’s!!

Sherry Andersen

01:02 10 Feb 23

We just finished a deal with Eric Wood and he was great to work with. He was extremely helpful and always responded quickly to our calls, texts or emails. I have worked with many people in the lending industry and can tell you that everyone at Granite West Funding is good at what they do. They had several options available for us and they handled our financing as if they were doing it for themselves or a loved one.Thank you Granite West Funding for making each of our transactions go quickly and smoothly!

Melissa McGregor

15:23 18 Nov 19

We recently executed a long distance purchase of a Condominium at Bass Lake, from the Los Angeles area. Granite West Funding handled our funding and walked us through the process via phone calls, text messaging and e-document signing, all of which helped get us closed in 30 days. Even with a snafu in the execution of escrow, Granite West Funding went above and beyond to resolve our problem in a more than satisfactory manner! These professionals care about their clients and their business reputation, and it showed! Thank you Granite West Funding!

FHA Loansin Oakhurst, CA