Let’s face it – the housing market can be quite daunting for a renter, a first-time homebuyer, and a seasoned homeowner all the same. With so many factors that go into consideration when applying for a loan, it’s easy to fall into a pool of worry. The Home Loan Expert is here to ensure that when you are ready to purchase your home in St. Louis, you feel calm, cool, collected, and confident you made the right decision to take out an FHA Loan.

The Home Loan Expert is an FHA, directly endorsed and approved lender from the Department of Housing and Urban Development. Our extensive expertise and understanding of the St. Louis housing market is not something many lenders share. Let us walk you through the basics of the FHA Loan so you can decide if it’s the right choice for you. In fact, 1 in 5 homebuyers choose an FHA Loan to help finance their home.

With an FHA Loan:

  • Rates are typically lower than a Conventional Loan
  • You can use it to purchase a condo, a single-family home, or a 1-4 unit property
  • You will receive one month without a mortgage payment

In addition, you can cash out up to 85% of your home’s value and refinance up to 97.75% of your home’s value. With a debt-to-income ratio of up to 57%, it is easy to see why this is one of the more popular loans available to people in St. Louis.

What about my credit score?

What about it? For an FHA Loan, a credit score as low as 580 can still be approved. And if you’re skeptical about a large down payment, FHA Loans allow as little as 3.5% for an initial down payment. As one of the more flexible loans we offer, FHA Loans provide buyers and refinancers with a strong option.

Not all lenders can match the speed, service, and security The Home Loan Expert provides. With same day pre-approval and one point of contact from your pre-approval to the release of the loan, we can close your loan in as little as 14 days! Our team will endlessly work to walk you through the lending process to ensure we close your loan in a timely manner. Our face-to-face approach to customer service is just another way for us to make you feel calm, cool, collected, and confident. And don’t forget, not all lenders offer the same costs and interest rates on the same FHA Loan, so call The Home Loan Expert in St. Louis today!

For more information, contact us today!

Ryan Kelley The Home Loan Expert
St. Louis Mortgage Company
1600 South Brentwood Blvd, Suite 700
Brentwood, MO 63144
(314) 781-9700