Our FHA Loan Products

FHA Loan

We only offer FHA home loans here at Pennsylvania FHA Mortgage. An FHA loan is a loan insured by the Federal Housing Administration (FHA). FHA mortgages may only be issued by federally qualified lenders like ourselves.

The FHA doesn't make loans but rather they guarantee and insure loans minimizing a lender’s risk. FHA loans offer a fairly liberal qualifying criteria when it comes to credit scores compared to conforming loans bought by Fannie Mae and Freddie Mac.

30 Year Fixed Rate Mortgage & 15 Year Fixed Rate Mortgage

We only have 2 loan programs here at Pennyslvania FHA Mortgage. Both of our FHA loans are fixed rate mortgages. You will always know exactly what your principal and interest payment will be each month for the life of your loan. Your principal and interest won’t change because your interest rate is fixed. The taxes and insurance component of your payment may change if your taxes and insurance change. When interest rates go up, you’re always protected with your fixed rate mortgage.  If rates go down, you can always take advantage of falling rates by refinancing.

A fixed rate FHA mortgages is the only way to go in today's volatile mortgage market.  

Adjustable Rate Mortgages (ARM) & Jumbo Mortgages

Although some lenders offer adjustable rate mortgages and jumbo mortgages, we do not. Adjustable Rate Mortgages (ARMs) offer a slightly lower interest rate to start, so your monthly payments are temporarily lower. As interest rates continue to move up your monthly payments will go up. Jumbo Mortgages are nonconforming loans that exceed the maximum loan limits set by two publicly chartered corporations (Freddie Mac and Fannie Mae) that buy mortgages from mortgage lenders. The 2007 loan limit for single family houses is $417,000. If your loan amount exceeds that amount, you will need a jumbo mortgage. These jumbo mortgages have recently seen large interest rate hikes and typically have a higher interest rate than conforming mortgages.