The main advantage of a Hawaii FHA loan is that the credit criteria is not as strict as the credit criteria for a conventional loan, which is sold to Fannie Mae and Freddie Mac. Another perk of FHA loan is that they allow a higher debt-to-income ratio than conventional loans, meaning they may require less income to qualify.
Someone who may have had credit problems or lacks traditional credit can still obtain FHA financing.
If you don’t have a credit score. Email us today to see if you are eligible for non-traditional credit qualifying.
Hawaii FHA loans are assumable, allowing a person to take over the mortgage without the additional costs of obtaining a new loan.
Call or email us to see if you can qualify for the MCC Grant to make your FHA loan more affordable.
FHA Lending Limits for FHA Loans in Hawaii Counties