FHA
FHA purchase and refinance loans in Wayne County, MI
FHA loans can be a practical path for Downriver buyers: as little as 3.5% down on qualifying purchases, with more flexible credit overlays than some conventional programs. They can also support an FHA streamline refinance when the numbers line up, and they are a common option for some condos and first-time buyers.
Who this may fit
Buyers with modest down payments, credit rebuilding, or condo purchases that may fit FHA guidelines.
Why borrowers use it
- As little as 3.5% down on qualifying purchases
- May be competitive when conventional overlays are tight
- FHA refinance and cash-out options for eligible existing FHA borrowers
- Useful on many Wayne County starter homes and some condos, subject to project review
Things to watch
FHA mortgage insurance does not drop off the same way conventional PMI does. If you will be in the house a long time, price a conventional alternative too.
Documents commonly needed
- Government ID and Social Security number
- Income documents (paystubs, W-2s, or tax returns)
- Asset statements and earnest money source
- Landlord information if you rent
Why work with Brad on FHA
FHA is a workhorse on Downriver starter homes and some condos. Brad prices it against conventional so you see MIP vs. PMI in dollars, and he will flag repair lists on older Taylor, Lincoln Park, and Wyandotte houses before you lock.
Next step
Call or text (248) 408-3855 with the property and your income type. Brad can help you review whether fha loans may fit — subject to program requirements — or which related option to compare. You can also start a secure application or read how pre-approval works.