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End 2024 Right with These Must-Have FHA Loan Programs | Valor Lending Group

Seeking a New FHA Loan?

As 2024 draws to a close, Valor Lending Group proudly introduces the FHA Loan Programs you can’t miss!

No matter what your financing needs are, Valor Lending Group is here to help you end the year on a high note with the ideal FHA solution. End 2024 Right with These Must-Have FHA Loan Programs!

Contact me today to discuss your unique situation, and let’s work together to make your homeownership dreams a reality!

End 2024 Right with These Must-Have FHA Loan Programs

These loans, backed by the Federal Housing Administration (FHA), offer the smallest down payment of all loans, requiring only 3.5% or even enabling no down payment when utilizing a down payment assistance program. Borrowing limits are determined by the county loan limits, which vary based on the property’s location (California Lending Limits & Arizona Lending Limits). Additionally, mortgage insurance is mandatory for approximately 1% of the loan amount. FHA loans are particularly advantageous for borrowers with lower credit scores and those seeking low down payment options.

FHA Loans come with unique benefits and considerations for prospective borrowers.

Here’s a quick breakdown of the key points:

Pros of FHA Loans:

1. Loan to Value (LTV): FHA financing allows for loans up to 100% with a Down Payment Assistance (DPA) program. This can cover all closing costs and fees. The DPA program often involves a second-position loan that can be forgivable or payable
2. Interest Rate: Typically, FHA loans have lower interest rates compared to conventional loans because the government backs them
3. Easier Qualification: FHA loans have more relaxed qualifications, making them accessible to borrowers with lower income or credit scores

Cons of FHA Loans:

1. Mortgage Insurance: FHA loans require mortgage insurance, which adds a monthly fee to your payment. Unlike conventional loans where mortgage insurance can be removed once the loan-to-value reaches 80%, FHA mortgage insurance remains for the life of the loan unless refinanced or paid off
2. Upfront Fee: There’s an upfront mortgage insurance premium (UFMIP) of 1.75% financed into the loan amount. Additionally, there’s an annual mortgage insurance premium ranging from 0.45% to 1.05% of the loan amount, added to the monthly payment
3. Property Restrictions: FHA-financed properties must be HUD-approved, and for condo developments, the entire development, or at least 50% of it must be owner-occupied

Specialized FHA Loan Products:

1. FHA 203k Renovation Loan: This allows borrowers to finance renovation costs into the loan amount, making it ideal for those wanting to purchase a fixer-upper or make improvements to meet FHA standards
2. FHA Construction Loan: This product enables borrowers to use financing funds for purchasing a lot, completing lot improvements, and constructing the house. After construction, the loan transitions into a 30-year fixed loan without needing to qualify again

Valor Lending Group can assist with various FHA mortgage loan needs, providing guidance and support throughout the process. 

Recently Funded | Valor Lending Group

$1,044,550 Loan amount | Private Money Bridge Loan | Purchase | 65% LTV | Murrieta, CA
$1,900,000 Loan amount | Full Doc Jumbo Loan | Cash Out Refi | 31% LTV | Mirage, CA
$1,430,000 Loan amount | 24 Month Bank Statement Loan | Purchase | 65% LTV | Phoenix, AZ
$2,625,000 Loan amount | Ground up Construction Loan | Purchase | 65% LTV | Malibu, CA
$1,905,000 Loan amount | Fix and Flip Loan | Purchase | 90/100 LTV | Palos Verde, CA
$2,645,000 Loan amount | Ground up Spec Construction Loan | Purchase | 65% LTV | Palm Springs, CA
$712,500 Loan amount | DSCR Loan | Cash Out Refi | 75%LTV | 70% LTV 
$4,013,750 Loan amount | Full Doc Jumbo Loan | Rate& Term Refi | 75% LTV | Newport Beach, CA
$592,500 Loan amount | DSCR Loan | Purchase | 75% LTV| Seattle, WA
$1,950,000 Loan amount | Private Money Bridge Loan | Cash Out Refi | 70% LTV | Berkeley, CA
$3,100,000 Loan amount | 12 Month Bank Statement Loan | Purchase | 43% LTV | Coronado, CA
$1,790,000 Loan amount | Private Money Bridge Loan | Cash Out Refi | Berkeley, CA
$1,008,000 Loan amount | Full Doc Jumbo Loan | Purchase| 80% LTV | Anaheim, CA
$1,740,000 Loan amount | Private Money 2nd Position Bridge Loan | Cash Out Refi |61% CLTV | Berkeley, CA
$4,775,000 Loan amount | Private Money Bridge Loan | Cash Out Refi | 62% LTV
$505,000 Loan amount | Full Doc FNMA Loan | Purchase | 85% LTV! | Ventura, CA
$2,100,000 Loan amount | Private Money Bridge Loan | Cash Out Refi | 51% LTV | S. Carolina

And many more.

We do them all, so give me a call!

Recap of Our Loan Products:

1. Private Money Loans (20% down / minimal documentation) Typically, funds in 7-10 days
2. Stated Income Loans (Great for business owners and self-employed) No tax returns!
3. 100% financing is available (we can cross-collateralize other properties if there is enough equity)
4. Valor VA Home Loan 100% financing up to $2.5MM
5. Investor Cash Flow Loan – No tax returns or DTI calculation! Based on the subject property’s cash flow
6. Flipper & Rehab Loans (Flip a property with one of our many options)
7. 2nd Position Loans up to $5MM
8. Raw Land & Lot Loans
9. Ground-up Construction for spec homes, custom homes, and commercial ground-up.
10. Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
11. 10% down Jumbo’s up to $1.5MM
12. Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
13. Acreage Properties
14. Commercial Loans up to $500MM
15. 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
16. Foreign Nationals Loans (no social security or residency required)

We Also Offer:

1. 10, 15, 20, 25, 30 years Fixed, Conventional Conforming Loans
2. High Balance Conforming aka Super Conforming
3. Jumbo’s to $10 MM / 10% down Jumbo to $1.5MM
4. FHA, USDA
5. ARM’s
6. Reverse mortgages up to $1MM Value
7. Refinance including Cash Out

**Rates and terms are subject to change without notice