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Mortgage Products

FHA Loans

FHA loans offer flexible options for homebuyers, with lower down payment requirements and more lenient credit qualifications. Discover the benefits of FHA loans and let us guide you through the process of securing the perfect mortgage for your dream home.

FEDERAL HOUSING ADMINISTRATION LOAN

If homeownership is your goal, even with limited credit, a down payment, or closing costs, an FHA loan could be your answer. Crafted as an alternative to conventional financing, FHA loans feature appealing and adaptable guidelines, making your dream of owning a home more achievable.

 

  • Low 3.5% down payment
  • 100% gift funds – the entire 3.5% down payment can be a gift from parents, relatives or an employer.
  • FHA allows seller to give up to 6% of the home’s purchase price to an FHA buyer to pay for closing costs and pre-paid costs.
  • Flexible credit qualifying – because it is government-backed, it’s possible to qualify for an FHA loan with a lower credit score than on conventional loan programs
  • Upfront mortgage insurance may be financed or paid in cash.
  • May also be an option for borrowers with limited equity looking to refinance.
  • Ability to choose from a fixed-rate or adjustable rate

Steps to Homeownership With Hobart Team

Get Pre-Approved

Unlock your home buying potential by getting pre-approved for a mortgage. With a clear understanding of your budget and loan eligibility, you can confidently embark on your journey to find the perfect home. Start with a pre-approval to make the home buying process smoother and more successful.

  • Expert guidance for necessary financial paperwork.
  • Personalized service from a trustworthy lender.
  • Seamless online or in-person application process.
  • Fast pre-approval with prompt review and tailored mortgage amount.

Finding an Agent - The Hobart Way

At The Hobart Team, we understand that finding your dream home is a journey close to your heart. Our mission is to make that journey a seamless and rewarding experience. With a deep understanding of the local real estate market, our team of dedicated professionals is committed to matching you with the perfect property.

Whether you’re searching for a cozy starter home, a spacious family retreat, or a luxurious estate, we’ve got you covered. We provide access to an extensive range of listings, ensuring you have a variety of options to explore. Our experienced real estate professionals will take the time to understand your unique preferences and needs, guiding you through the house-hunting process with expertise and care.

Find Your Dream Home

At The Hobart Team, we understand that finding your dream home is a journey close to your heart. Our mission is to make that journey a seamless and rewarding experience. With a deep understanding of the local real estate market, our team of dedicated professionals is committed to matching you with the perfect property.

Whether you’re searching for a cozy starter home, a spacious family retreat, or a luxurious estate, we’ve got you covered. We provide access to an extensive range of listings, ensuring you have a variety of options to explore. Our experienced real estate professionals will take the time to understand your unique preferences and needs, guiding you through the house-hunting process with expertise and care.

Make an Offer

You’ve found the home that captures your heart, and now it’s time to move forward with an offer. As your trusted mortgage lenders, The Hobart Team will be there to support you through this exciting step. While the realtor handles the negotiations, we work closely with you to ensure your financial preparation aligns with the offer process.

Our team of mortgage experts will assist you in understanding the financial aspects of the offer, providing valuable insights to help you make informed decisions. With our expertise and personalized guidance, you can approach the offer stage with confidence. Let The Hobart Team take care of the financing details, so you can focus on envisioning yourself in your future home. Trust us to be your dedicated partners throughout the process, helping you secure the mortgage that fits your needs seamlessly.

Final Stretch - Home Inspection

Once you’ve found your dream home and your offer has been accepted, you’ll schedule a home inspection with a qualified professional. They will conduct a comprehensive assessment of the property’s structure, systems, and overall condition. Armed with the inspection report, you’ll gain valuable insights into any potential issues or repairs needed, enabling you to make informed decisions about the property.

As your dedicated mortgage lenders, we fully support your home buying journey, including the home inspection process. We’re here to answer any questions you may have about financing, ensure a smooth loan application process, and provide you with peace of mind as you move closer to making your dream home a reality.

Secure Financing

Securing the right financing is not only essential but also a critical step towards achieving a successful homeownership journey. At The Hobart Team, we recognize the significance of this phase, and our team of experienced mortgage professionals is fully dedicated to guiding you through the entire financing process with expertise and care. We understand that each homebuyer has unique financial circumstances and aspirations, which is why we take the time to listen attentively to your needs, assess your financial situation, and explore various loan options that align perfectly with your goals.

With our support and guidance, you can confidently navigate the complexities of the financing process, ensuring that you are well-prepared to close on your new home. Our ultimate aim is to make the financing process smooth and stress-free, empowering you to embark on your homeownership journey with confidence and peace of mind.

Closing

Congratulations, you’re almost a homeowner! The closing marks the final step in the home buying process. Our team will ensure all necessary documents are prepared and signed, and the property ownership is officially transferred to you.

We’ll be there to answer any questions and provide support throughout the closing process, making sure everything is in order for a smooth transition to your new home. Let us handle the details, so you can focus on celebrating this significant milestone in your life.

People Are Talking

“Kieth has an experienced team that was with us every step of the way and always communicated updates on our loan. They went above and beyond and were always there to answer any questions we had, very happy with our experience. Thank you Hobart Team!”

– Monica M.

What makes Hobart Team the best partner for FHA loans?

Experience unmatched excellence with The Hobart Team as your partner for FHA loans. Our deep understanding of FHA financing intricacies, combined with personalized service, sets us apart. We offer transparent guidance, tailored solutions, and streamlined processes to ensure a seamless FHA loan experience. Count on us to navigate complexities, secure competitive terms, and make your homeownership dreams a reality. With The Hobart Team, FHA loans become a strategic pathway to your housing aspirations.

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Frequently Asked Questions

What is an FHA loan, and who is it suitable for?

An FHA loan is a mortgage insured by the Federal Housing Administration, designed to help homebuyers with lower credit scores and a smaller down payment. It’s an excellent option for first-time homebuyers and those who may not qualify for conventional loans.

How much is the down payment for an FHA loan?

FHA loans typically require a down payment of 3.5% of the home’s purchase price. This lower down payment requirement makes homeownership more accessible, especially for those with limited savings.

What are the benefits of an FHA loan?

The down payment required for a mortgage typically ranges from 3% to 20% of the home’s purchase price, depending on the type of loan and other factors. Certain loan products require 0% down.

Can I use an FHA loan to refinance my existing mortgage?

Yes, FHA loans are not only for purchasing homes but can also be used for refinancing. An FHA streamline refinance allows you to reduce your monthly payments or switch from an adjustable-rate mortgage to a fixed-rate mortgage with minimal documentation and streamlined processes.

Ready to Get Started?

Contact your trusted mortgage lender today.

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