Sally Redmon

NMLS# 176514

Area Manager

FHA-Insured Loans

What is an FHA-Insured Loan?

FHA-Insured Loans offer many benefits and a level of security that you won’t find in other loans. While these loans are funded by Academy Mortgage, the Federal Housing Administration (FHA) insures these mortgages so Academy can offer you a better deal. With flexible qualification guidelines, these loans are particularly designed to benefit first-time homebuyers and buyers who don’t have perfect credit or a lot of money to put down.

A few common FHA-Insured Loans are:

FHA 203(b) Home Mortgage Loans for qualified buyers wanting to purchase or refinance a primary residence.

FHA 203(k) Renovation Loans for those wanting to buy a home, fix it up, and include all the costs in one loan, or those wanting to refinance what they owe on their mortgage and add the costs to remodel or repair their existing home.

FHA Energy-Efficient Mortgages for those wanting to make their home more energy-efficient.

What are the benefits of an FHA-Insured Loan?

FHA-Insured Loans offer the following features:

  • Low down payments (as low as 3.5% of the purchase price).
  • Fixed-Rate and Adjustable-Rate Mortgages available.
  • 100% gift funds acceptable for down payment and closing costs.
  • No prepayment penalty.
  • Flexible qualification guidelines.

Who may benefit from an FHA-Insured Loan?

FHA-Insured Loans may be of particular benefit to buyers who:

  • Are buying their first home.
  • Don’t have a lot of money to put down.
  • Don’t have perfect credit and are worried about qualifying for a loan.
  • Want to keep their monthly payments as low as possible and/or are concerned about their monthly payments going up.
  • Want to refinance a high-cost mortgage.
  • Are looking to finance one- to four-unit structures or approved condominiums.

For more information

Contact your Loan Officer today to see if an FHA-Insured Loan is the right solution for you. We take pride in delivering value and savings to homebuyers across the United States. It would be a pleasure to help.

NMLS# 176514

State Lic: OK: MLO10967; TX: 176514; LA: 176514;

Corp Lic: OK: ML010411; TX: 3113; LA: 3113;

Figure: 7 TAC §81.200(c) CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV.;