Ready to Invest in your Future Dream Home?
An FHA Loan is authorized by the Federal Housing Administration. We can facilitate this type of loan directly. At E Mortgage Capital we will guide you through the documentation you must provide. Here is a breakdown of the main features of the FHA loan.
FHA Home Loan
Features a very low down payment
You will have access to more flexible credit options
You will require additional mortgage insurance
You can choose your term loan between 8 and 30 years
Not the Loan You're Looking for?
Nevermind, check out our other options
Conventional Home Loan
Home Purchase (Very low down payment)
No Private Insurance required with 20% down payment
Flexible Term Options Available for 8-30 Years
VA Loan
Reserved for active duty, reservists, military veterans
No down payment required
No mortgage insurance needed
Easier credit requirements
Flexible Term Options Available 8-30 Years
Jumbo Loan
Higher loan amounts that exceed conventional county limits
Higher reserve requirements
More restrictive debt to income ratio requirements
Flexible Term Options Available 8-30 Years
Other - USDA and Non-QM
Alternative income methods verification accepted
Allows for interest only payment
Ideal for self-employed borrowers
Flexible Term Options Available 8-30 Years
Frequently Asked Questions About Home Loans
Can't find the answer you're looking for? Reach out to one of our qualified loan officers team.
What documentation should I have to request a mortgage?
1. Tax returns - You will need to fill in a Form 4506-T, and provide your tax forms (the last 2 years should suffice).
2. Pay stubs, W-2s, or other proof of income -These include your recent salary stubs. If you are self-employed you must provide two recent tax return forms as well as profit or loss forms.
3. Bank statements and other assets - This includes proof of your possessions, assets, as well as other investment assets such as life insurance.
4. Credit history - Details of your credit history, including any episodes of bankruptcies or foreclosures.
5. Gift letters - If any friend or family member wants to help you with the down payment by offering you some cash you must provide a “gift letter” which states that the money is a gift and not a loan.
6. Photo ID - Recently taken personal photo passport style.
7. Renting history - Your history as a tenant on rent to guarantee you can pay your rent bills on time.How long does the process take?
If all the documentation is in order and no unexpected issues are encountered, the process from the initial contact to the refinance approval can take as little as 10 days.What are HOA fees?
The HOA Fees aka Home Owners Association Fees are monthly payments for the maintenance of the common areas and amenities if you live in a joint association such as a block of flats or condominium association.What is a down payment?
A down payment is a type of payment, often in cash, made in the early stages of a purchase of a home. Our down payments can be as low as 3% depending on the type of loan except for the VA Loans (Veterans only), with a 0% down payment required.What is the principal?
The principal is the money that you originally agreed to pay back on a home loan or mortgage refinance.What is the loan term?
A loan term is the period of time a borrower takes to completely pay off a loan when payments are made out regularly and as previously agreed by both parties.
