An FHA loan is a government-backed mortgage insured by the Federal Housing Administration (FHA). This type of mortgage is popular with first-time homebuyers and those who do not have the means for a larger down payment. But how do you know if an FHA loan is the right decision for you? Along with the four […]
Tag Archives | FHA loans
Advantages to FHA Loans
With the increase in private mortgage insurance (PMI) rates, many homebuyers have been questioning whether an FHA loan is their best financing option. GVC Mortgage encourages Indianapolis homebuyers to consider each mortgage loan option before moving forward. An FHA loan is not money lent directing from the Federal Housing Administration (FHA). What happens is that when […]
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Required Documents
- 2 most recent paycheck stubs
- 2 months of bank statements (checking, savings, etc.)
- 2 years full federal tax returns (including W-2s and 1099s)
- Copy of your driver’s license
- Insurance agent contact information
If applicable, the following items will also be needed
- Divorce decree
- Bankruptcy papers
- Proof of child support
- Awards letter (social security and pension)