Keystone Funding Inc. in Media helps homeowners secure FHA loans. FHA loans allow you to purchase a home with a 3.5% down payment, or refinance a home up to 96.5% of the home's value. FHA loans are easier to qualify for, and offer several homeowners an easy way to secure financing.
See if you pre-qualify for an FHA loan today!
If you have an FHA loan that originated before June 2009, you may qualify for a streamline FHA refinance. This means that you can refinance your current FHA loan with a very simple process. Unlike the standard refi or loan application process, the Streamline FHA makes it easier.
If you are currently over 4.5%, a new FHA program coud save you THOUSANDS!
Here are some benefits of a Streamline FHA Loan:
- Better loan terms
- You do NOT need an appraisal on your home, even if you are upsidedown
- You do NOT need to verify your income or employment
- Your credit score will NOT be pulled
About FHA Loans
FHA loans originate from the Federal Housing Administration and are insured by HUD (US Dept. of Housing) so that lenders can offer more affordable mortgage rates. FHA loans require lower down payments and closing costs. There are even options for financing 100% of the loan, and several grant programs that provide FHA loan customers financing for the down payment.
FHA loans offer options to those who've undergone bankruptcy or foreclosure. They're available to first time homebuyers, refinancers and anyone who's purchasing property and doesn't already have an existing FHA loan. The guidelines for debt ratio and job qualifications are more lenient than a conventional loan.
Refinancing your Mortgage with an FHA Loan
You may refinance your home loan with an FHA loan if you don't currently have an existing FHA loan. Refinancing options include fixed, adjustable (ARM) and buy-down mortgage rates, although most buyers have a fixed-rate FHA loan. Refinancing with an FHA loan is allowable even if you're late on your current mortgage or facing foreclosure.
FHA loan applicants find that FHA loans do not have as strict of income guidelines nor credit history as conventional loans. FHA loans offer competitive rates for those in foreclosure or bankruptcy. There are also options for loan consolidation with FHA loans.
FHA Loan Qualifying
FHA loan requirements are more flexible than conventional loans and provide the easiest application. Below are the requirements for FHA loans:
- Need two years of consistent employment - preferred by the same employer.
- Income over the past two years is the same, or increasing.
- Credit guidelines vary; please ask Keystone Funding Inc. for details.
- Bankruptcies must be 2 years old; good credit since the bankruptcy
- Foreclosures must be 3 years old; good credit since the foreclosure.
- Mortgage payment of your new home must be around 30% of your gross income.
To see if you pre-qualify for a FHA home loan, contact Kenneth D. Pitts today at 610-345-9100.
We were first time home buyers and it was very scary territory! The second I walked into Ken office Kim made me feel so comfortable! Ken was so great at explaining everything to use and him and Jackie were so thorough and professional! The whole team is so great I would recommend them to anyone!
Ken and his team we awesome to work with. You all made this process so easy. Thank you for all you did to make our dreams come true. I will recommend them to everyone I know.
Ken and his colleagues were very easy to work with to finance the purchase of our new house. Everyone was friendly and efficient and Ken was a great resource for questions about the process. He was able to get our pre-qualification letter out the same day we needed it. Once we were under contract, at his recommendation, we locked in our rate at a great time and there was no drama in the closing process. We were able to do all the paperwork online--no messing with fax machines or dropping physical papers off anywhere. We would definitely work with Ken again.
Ken and his team are a pleasure to work with! He was always happy to help and answer any questions we had and keeping in contact every step of the way.
We only had just over a month for have our loan ready. Ken assured us it would be ready. From start of the process to the closing, the process was seamless. Ken's team was efficient, knowledgable and helpful the enter time. They assisted us with everything that was needed and kept us informed the entire time. I would recommend Ken and his team to anyone needing a mortgage.
Ken and his team have been great throughout my house purchase. They are always available and help you understand every step of the process. I would highly recommend!
My husband and I just purchased a house, we are first time home buyers, and Ken was excellent to work with. He was very professional and timely in providing us with the information we needed to successfully secure our mortgage. There were no last minute surprises, everything went very smoothly. I would definitely recommend Ken.
Mr. Pitts and his team were swift to support my fiance and I during every step of our housing process. He was courteous and swift to get in touch with us whenever we had questions, and professional even during negotiation over interest rates. If you go to the table with Ken, he will make sure you have the necessary financial backing to complete your purchase, without awkward issues arising during closing.
Ken recently assisted us with the purchase of our first home. Ken and his team were extremely helpful and informative throughout the entire process. I can not think of one negative thing to be said and very grateful for the professionalism, knowledge and experience that Ken brought to the table. Ken and his team assured that all necessary steps were completed well before settlement and the morning of settlement went through without a hitch. Ken also personally attended settlement with us and answered any questions that we had. A truly great guy and professional!
Ken and his team did a great job for my family on a very tight closing deadline. They kept us on track throughout the process. I would recommend them 100%!