FHA Financing

 

Los Angeles County FHA Maximum Loan Limits

Single Family           Duplex              Tri-plex             Four-plex

$729,750                 $934,200        $1,129,250       $1,403,400

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30 & 15 year terms

Down payments as low as 3.5%: If you are a first time homebuyer or are worried about not having a large down payment, then the FHA Loan may be a good loan for you. Backed by the Federal Housing Administration (FHA), federally insured loans like the FHA often mean lower down payment requirements and flexible qualifications.

 

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Flexible income and credit qualifications for: FHA loans means the lender can use a wide variety of criteria to prove you would be a good borrower for this loan. Often first-time homebuyers, small business owners, and those who receive income on a commission base benefit choose this loan because of the low down payment, flexible income, and credit requirements.

 

No prepayment penalties if you pay off the loan early: Some lenders charge you a penalty fee if you pay off your loan before the end of the term such as paying off your mortgage in a lump sum payment or paying more in your monthly mortgage payments.