Top Flite brings a coast to coast FHA loan program that closes the deal.
Our lending specialists are very focused on finding the best solutions for our clients and addressing all your questions/concerns.
We’re not afraid of high expectations. We already demand them of ourselves.
Credit Scores Down to 500!
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders to reduce their risk of loss if a borrower defaults on their mortgage payments.
Most Lenders apply credit “Overlays” to the FHA minimum fico of 500 in order to minimize their perceived risk. It is common for other Lenders, Banks, and Credit Unions to require a 620 minimum credit score.
Top Flite is know nationally for approving the loans that others turn down. We have determined that your “Credit Score” is not always the best indicator of your ability or likelyhood to repay the loan on time.
Typically, an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low-down payment and you can have less-than-perfect credit.
At Top Flite Financial, we allow credit scores down to a 500 fico and will consider borrowers with debt to income ratios up to 57%. We have one of the most aggressive FHA products that you will find anywhere.
With our online platform and our expert lending specialist, we make a stressful process easy. Here’s how our home loan process works:
Let Us Know Your Goals
Contact your Top Flite loan officer – he or she will ask some questions about your situation, find out what you’re trying to accomplish and gather some preliminary information.
We’ll Run the Numbers
Your loan officer will take that information and use it to put together some options for your refinance. Don’t worry if your credit isn’t perfect – we’ve helped people whose credit is as low as 500. We’ll take a look and let you know if and how we can help.
Then the Fun Starts
You look over the options. You pick the one that sounds best. We work on getting the house approved by ordering your appraisal right away. You will be providing us with some basic documentation and other items related specifically to your situation. Once the appraisal is back and all preliminary items have been provided, your loan goes straight to underwriting.
Underwriting & Processing Join In
Your application makes its way to our behind-the-scenes magic department – that is, our underwriting department. These wizards will take a look at all your information, request any additional information if necessary and finally give your refinance the rubber stamp of approval. We will send a closing agent right to your home to sign the final closing paperwork