Follow:

Tracie Schmidt

Producing Branch Manager

 

NMLS #269424

 

Direct: (858) 336 - 5200

 

Fax: (858) 264-1602

tracie.schmidt@supremelending.com

Branch Address:

 

1615 Murray Canyon Road Suite 1020

San Diego, CA 92108

This website is not authorized by the New York State Department of Financial Services to accept mortgage loan applications for properties located in New York.
                                   For New York applicants, please visit our New York authorized website: www.supremelending.com.


ADVERTISEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org) 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. © 2019. This is not an offer to enter into an agreement. Information, rates, & programs are subject to change without prior notice and may not be available in all states. All products are subject to credit & property approval. Supreme Lending is not affiliated with any government agency. Intended for California consumers, Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License 4130655. Equal Housing Lender.. 

© 2019 EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org). 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. All rights reserved.

FHA Loans

FHA Loan:

The Federal Housing Administration was created in 1934 in an effort to bolster homes sales during the Depression. By financially guaranteeing loans, the FHA lifts much of the risk of non-payment and foreclosure from private lenders. It is important to remember that the FHA is not a lender; they just guarantee your loan.

Advantages:

Enables a borrower to purchase “more house”

Features:

.

Bankruptcy not an automatic disqualification

 

Lower interest rates

 

Down payment is less

 

Lower mortgage points and other closing cost requirements

 

Resale can be made more quickly

 

Is backed by the U.S. government

.

.

.

.

.

.

.

.

.

.

Down payment required

Higher upfront Mortgage Insurance Premium (MIP) than on conventional loans but monthly MIP is lower

 

Loan Limits are lower than conventional

 

MIP required regardless of the Loan-to-Value (LTV)