Bellevue FHA Loans programs offer incredible rates and flexibility

Bellevue homeowners are fortune to live in an area with a strong local economy and stable real estate market. Lenders have recognized these strengths and have consistently provided the Bellevue real estate market with some of the ideal interest rates in the country across a wide variety of loan products. In recent years Bellevue FHA loans have grown in popularity and are expected to be one of the most common loan types as the economy recovers over the next few years.

The FHA loan program has become popular for a number of. First consider that Bellevue FHA loans have very competitive rates which are often the same or better than conventional loans. These great rates are most apparent on higher loan to value (LTV) transactions, loans in which the LTV is 90% or greater. In many cases a 95% LTV Bellevue FHA loan can be price .75% to .50 % better than the interest rate of a standard conventional loan.

The FHA loan also allows for more flexible credit requirements. Borrowers with less than perfect credit or even a past bankruptcy can seek financing through the FHA loan program. This doesn’t mean that Bellevue FHA loan are made to borrower who are unlikely to pay their bills, it means that the FHA loan program is more concerned about your future than your past. If you can prove that your credit is on the rebound and your income is stable then an FHA home loan is very attractive loan for you.

Bellevue FHA loans can also benefit current homeowners. Unlike many conventional loans FHA allows for cash out refinances up to 85% LTV without an increased interest rate. This allows borrowers to pull cash out of their homes to pay off credit cards, cover tuition, and even make upgrades to their properties. If you don’t need to take cash out of your home and would like to simply refinance you current mortgage, a Bellevue FHA loan can be made up to 96.5% of the property’s appraised value.

Northwest Mortgage Experts has become a trusted FHA loan provider in the Bellevue area. Our experience in the Bellevue real estate market paired with our knowledge of FHA loan guidelines insures you will get great results. Unlike other lenders who are just interested in the transaction, we are seeking to earn “clients for life”. We are motivated by building a relationship and delivering a loan product that meets your needs.