The Low down on
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
The FHA program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable.
We’re here to make the FHA home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE FHA Loan Qualifier.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
You ask, we answer
We know the mortgage process can be tricky. Here’s some questions people like you have asked us in the past.
Pride Mortgage Lending is your online resource for personalized mortgage solutions, fast
customized quotes, great rates, and service with integrity. We’re here to make the home loan
process a whole lot easier, with tools and expertise that will help guide you along the way.
At Pride Mortgage Lending, we are a diamond partner with the largest wholesale purchase
lender in the country. That means we have the fastest turnaround time and the best platform to consistently close your loan. Our average closing time is 12 days.
We also have the resources to make your home-buying process seamless. Use our free decision-making tools and calculators, from pre-approval to home insurance quotes, to get the process going. You can do a home search, learn the value of your home, and calculate your payments right from our site.
Protecting your personal information is our top priority. We use bank-level encryption, and we’re constantly monitoring our site to make sure it’s secure. We won’t sell your data or use it for any other purpose than to help you get a mortgage.
Mortgage rates change daily and vary depending on your unique situation. But you will always
get our best rates by starting your application online. You can see today’s rates and learn how
rates are trending: get your free quote today!
Pride Mortgage Lending is best for people who have a credit score of 620 or above and are ready to buy, sell, refinance, or build their dream home.
Do You QUALIFY?
To qualify for a mortgage, lenders typically require that you have a debt-to-income ratio of “43/49.” This means that no more than 43% of your total monthly income (from all sources, before taxes) can go toward your new mortgage payment, and no more than 4 late payments.