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FHA Home Loans

NEXA Mortgage provides FHA home loans to help home buyers that have a little down or no down payment. FHA is short for the Federal Housing Administration and they ensure the loans that banks and lenders provide.

FHA home loans are great loans for first-time new home buyers with a small or zero down payment. FHA loans allow borrowers with less than perfect credit to receive the same interest rate as a borrower with clean and unblemished credit. Typically, FHA mortgage loans require 3.5% down.

FHA Qualifications 

FHA mortgage loans are excellent loan programs because first-time homebuyers often experience the most difficulty coming up with a significant down payment and they can have a limited credit history. FHA mortgage loans were designed for those homebuyers with limited and marginal credit but are only a few of the first-time homebuyer programs that we offer.

The Problem

Often times borrowers do not have the 3.5% down payment. There are several places that a homebuyer can get the required down payment. One could be a gift from a relative or family member. Another could be a Down Payment Assistance or DPA program. Either way we got you.

The Solution

NEXA Mortgage has many Down Payment Assistance programs (DPA). NEXA Mortgage has relationships with over 180 lenders comprising of over 3,800 programs. Nobody does more DPA then NEXA.

Our FHA DPA programs are offered in many variations. For example one is 100% FHA 1st and 2nd combo purchase program is leading the industry on 100% financing for FHA purchases.

Our preferred partnership with Chenoa's national down payment assistance funds, helps you cover closing costs and helps you close more FHA loans. Being able to buy with 100% financing gives you that added advantage to save your money on more important things like making your home, your home.

NEXA Mortgage provides FHA home loans to help home buyers that have a little down or no down payment. FHA is short for the Federal Housing Administration and they ensure the loans that banks and lenders provide.

FHA home loans are great loans for first-time new home buyers with a small or zero down payment. FHA loans allow borrowers with less than perfect credit to receive the same interest rate as a borrower with clean and unblemished credit. Typically, FHA mortgage loans require 3.5% down.

FHA Mortgage Highlights
  • Lowest FHA mortgage rates from NEXA Mortgage!
  • Low down payment (less than 3.5% down in most cases)
    Gifted funds accepted for a down payment
  • The seller can contribute up to 6% of the sales price
  • Low mortgage insurance or MIP
  • Approved condos welcome (no up-front mortgage insurance payment required!)
  • Low minimum credit score requirements
  • Past bad credit, not a problem. FHA underwriting guidelines are more liberal than those for most mortgages. Past bad credit does not automatically mean you can’t get a low-interest mortgage
  • Even bankruptcy may not interfere with an FHA home loan (if 2 years since discharge)

FHA mortgage loans are open to all income levels.

Unlike many federal loan programs, FHA is not a low-income loan program like VHDA. If your income puts you above the cut-off for other federal programs, you may still qualify for a FHA low-interest mortgage. Maximum FHA loan amounts vary by region so contact us to find out the loan limit for your area.