FHA Loans

 The purpose of FHA loans is to purchase, refinance the current rate term, or refinance cash out on the home your borrower is attempting to buy. The available terms for these types of loans are 15 and 30 year fixed-rate mortgages. The same options are also available for high balance terms if your client qualifies. The minimum credit score to qualify for one of these loans is 550.

 The FHA Streamline Refinance program allows current FHA borrowers to lower their monthly mortgage payments with minimal paperwork, no appraisal, and no income verification required.  

• Lower interest rates by at least 0.5%
• Lower monthly payments
• No appraisal requirement
• No income requirement
• Only mortgage credit report required with FICO scores
• Investment properties eligible
• Min. FICO 550

▢ Submission Form
▢ Fannie Mae 3.4 File
▢ 1003 Loan Application
▢ Borrower’s Authorization
▢ ID & Social Security Card
▢ Mortgage-Only Credit Report
▢ Current Mortgage Statement
▢ Utility Bills
▢ Hazard Insurance Declaration Page
▢  Property Tax Bill
▢  Mortgage Note
▢  Assets (Proof of Funds to Close)
▢  Payoff Demand Statement
▢  Escrow Instructions
▢  Preliminary Title Report
▢  Estimated Settlement Statement  

 Although FHA loan approval is based on credit score, we have options for your clients who have damaged credit due to bankruptcy. We’ll evaluate their credit history, including how long it’s been since the file and whether or not the client has been able to pay back some of the debt. We offer several types of loans depending on your borrower’s financial situation. We take the time to evaluate the state of the housing market and the home’s price to help you deliver the best deal to your clients. 

 At Bluepoint Mortgage, we have access to the best underwriting resources, and we pride ourselves in a quick loan approval turnaround time. Consult with our professionals on what your client needs, and we’ll deliver the best loan options to get them in their dream home fast.

BluePoint Mortgage is a direct seller to Fannie Mae, Freddie Mac, and Ginnie Mae, meaning we can offer flexible mortgage options that suit your borrowers.

 Alabama, Arizona, Arkansas, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Minnesota, Mississippi, Montana, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin