FHA Loans Available for Santa Fe, NM

At Acceptance Capital we specialize in helping clients acquire the right financing for their home.   A popular loan option for many people in New Mexico is an FHA Loan.  This loan is great for those looking for a lower down payment and more affordable monthly payments.

An FHA loan is federally insured by the Federal Housing Administration.  These loans are insured by the US government but are available through private licensed FHA lenders.  FHA loans were established in the 1930s during the Great Depression and have given lower income Americans access to home ownership.

This loan type requires mortgage insurance from the Federal Housing Administration. This upfront mortgage insurance premium (UFMIP) is equal to 1.75 percent of the base loan amount at closing.

Lenders offering this loan type are approved by the US Department of Housing and Urban Development.  Each lender is able to set their rates and at Acceptance Capital we are able to offer some of the most competitive in Santa Fe and throughout New Mexico.

There are several factors which will help determine your rate such as debt-to-income ratio, payment history on other debts, and your FICO credit score.  Those with a score lower than 620 typically have a higher rate.  

The FHA loan program is designed to help low to moderate income Americans gain access to affordable homeownership.  The loan program allows first time homebuyers to put as little as 3.5 % down and receive up to 6% towards closing costs.  

Although an FHA loan was originally created to stimulate the housing market in the 1930s, it is still very popular today.  As one of the most common loan types, we are able to offer great customer service paired with very competitive rates to make sure that your home purchase is a positive experience.

At Acceptance Capital we pride ourselves on helping Americans achieve their dream of homeownership.  Although we are located in Santa Fe, we specialize in FHA lending throughout the entire state of New Mexico.  

Contact us today for a quick and easy quote to make your first step towards owning your home!