FHA Loans
in Los Angeles

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With its vibrant city life and its incredible diversity, Los Angeles is an amazing place to purchase your first home, or your next. But dreaming big of a life in Los Angeles doesn’t mean you need to put a big down payment on a new home. If you purchase a home using an FHA loan, your down payment could be only 3.5%.

What is an FHA Loan?

FHA loans are lending products insured by the Federal Housing Administration (FHA). This backing from the FHA lowers your risk profile, which raises your negotiating power. The result is easier qualification for more affordable loans with an array of special benefits and features.

What Are the Advantages of FHA Loans in Los Angeles?

Here’s why many first-time homebuyers and repeat homebuyers alike turn to FHA-backed financing:

The down payment on your FHA loan could be just 3.5%.

With the FHA reducing your risk profile, credit requirements also are reduced.

Low interest rates are available for long-term affordability.

You can expect low closing costs. Sometimes, the seller may pay the closing costs.

Whether you prefer a fixed or adjustable mortgage rate, you can structure your loan in a way that works for you.

You can use an FHA loan for home purchase, refinance, upgrades, repairs or consolidation.

Are You Eligible for an FHA Loan in Los Angeles?

Many homebuyers are surprised by how simple and relaxed FHA loan qualifications can be. You can read over the basic requirements below.

Ideally, your debt-to-income ratio should not range higher than 43%-45%.

With a credit score of 580 or above, you can qualify for a 3.5% down payment with an FHA loan. With a credit score between 500-579, you can still qualify for an FHA loan with a 10% down payment.

Along with sufficient income, you must be steadily employed. You need to document continuous employment over the past two years.

You must be applying for financing for your primary residence.

Your credit alert interactive voice response system (CAIVRS) report must be clear.

I’m not a first-time homebuyer. Can I still apply for an FHA loan?

I hear this question a lot! It is true that the majority of FHA loans do go to first time homebuyers. But being one is not a requirement for approval.

My previous home was foreclosed. Does this disqualify me?

This is another common question among homebuyers applying for FHA loans. The great news is that your past foreclosure should not stop you from qualifying if sufficient time has passed. This is true for bankruptcy as well.

What Our Clients Say

Joshua Barton
Joshua Barton
16:05 23 Nov 19
I have had the pleasure of working with Shannon for 8 years - her knowledge of the mortgage process and attention to clients is unparalleled. The Los Angeles market can be tricky with high dollar homes and unique income of the Entertainment Industry, but Shannon takes charge and leads everyone through to successful closings like clock work - cannot recommend her enough a true Rock Star in Mortgage world.read more
Lauren S
Lauren S
04:52 18 Oct 19
Working with Shannon was a real pleasure. She was always available and got back to me promptly with any necessary information. I was able to refinance my mortgage at a rate considerably lower than another larger company quoted who I had started working with. I look forward to working with Shannon again and I highly recommend her to anyone looking for a competent and decent mortgage broker.read more
Mike White
Mike White
02:15 27 Sep 19
As first time home buyers we had no idea what we were doing. We were pre-approved by a well known company but quickly discovered that we absolutely did not want to work with them for the actual mortgage. Shannon was recommended to us by a friend and I called on a Saturday morning. By Saturday evening we were well on our way to buying a house (we closed three days ago!). Shannon made navigating these foreign waters so easy, answering all of our newbie questions with patience and grace. Plus she got us a fantastic rate. We are so grateful for Shannon and can not recommend her enough. WE OWN A HOME!!read more
Alaine Smith
Alaine Smith
13:15 26 Sep 19
It was wonderful working with Shannon! She is attentive, thorough, and intelligent. It was easy to communicate with her because she took time to hear and understand my goals and always responded quickly. I highly recommend her to anyone looking. The customer service she provides exceeds expectations by a long shot! Thank you, Shannon, for all your help!read more
Julie Mckay
Julie Mckay
17:20 28 Aug 19
I just purchased my first home! Shannon and her team were truly a dream to work with. I was never left in the dark and she was always quick to respond with all of my questions. My experience couldn't have been easier. I highly recommend Shannon and would use her again in a heartbeat! She is the BEST!read more
jojo quijada
jojo quijada
19:55 27 Aug 19
I've been in the real estate business for over 5 years now, and I always trust Shannon to work with my clients. She and Josh are an AMAZING TEAM! Buyers love to work with Shannon as she gets things done asap and answer any and every question/concern. I couldn't recommend a better person for lending. Can't thank her enough!!read more
Rotimi Ayanbeku
Rotimi Ayanbeku
20:12 15 Aug 19
I always go back to Shannon because she is one of the best in the business! I've worked with Shannon over the years, however, she outdid herself in my last deal. She was so professional, caring and effective that my clients were comparing everyone else in the deal to Shannon. More importantly, we were ready to fund in less than two weeks. Once again, Shannon affirmed my belief in her that she always rises to the occasion. Thank you for being the best!read more
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Apply Today for an FHA Loan With a Low Down Payment

If you are eligible for an FHA loan, you could move into your home in Los Angeles with a down payment of just 3.5%. Find out now if you qualify. Call (818) 601-2231 to schedule your FHA loan consultation and start the application process. Soon you could be getting the keys to your LA home!

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