When we meet a client who’s credit is less than perfect, or a first time home buyer, we suggest an FHA loan.

FHA does not make or guarantee loans; they insure them. That is, they remove or minimize the default risk lenders face when buyers put down less than 20 percent.

You may qualify for an FHA loan if any of the following is true:

  • Your FICO score is low or insufficient.
  • You had a bankruptcy discharge between one to two years ago, and you have maintained good credit ever since.
  • You have had a home foreclosed on in the past, but you have kept your credit in excellent shape for at least three years.

Limited Rates for FHA Loans? No Problem!

The maximum mortgage limit in high-cost areas is 115% of local median prices, with a maximum mortgage not exceeding $625,500. No matter how rocky you think your finances are, you don’t have to dash your dreams of owning a home. Call Direct Capital Funding at 1-805-222-4608, and one of our compassionate loan officer will go over your case thoroughly to determine how much you can borrow—you could be pleasantly surprised at your real borrowing power.