Dennis Hutera

NMLS # 209553


Dennis Hutera President

FHA Loans

This a government-backed mortgage insured by the Federal Housing Administration. FHA home loans allow lower minimum credit scores and lower down payments compared to many conventional loans. FHA loans come in 15-year and 30-year terms with fixed interest rates. Borrowers must pay FHA mortgage insurance, which is designed to protect the lender from a loss if the borrower defaults. Mortgage insurance is required on most loans when borrowers put down less than 20 percent.

FHA Streamline Refinance: Allows a refinance of a current FHA mortgage on your primary residence where you may be able to lower your monthly mortgage payments- in some instances, even if you owe more than the value of the home! It is quick and simple because: No appraisal is required, no income verification is required, the credit requirements are simplified!

FHA 203(K) Standard & Limited Renovation: This is a perfect loan program if you want to finance a home that requires renovations or repairs and wrap the remodeling or repair costs into your mortgage.  You can finance the following:  corrections of deferred maintenance, remodel a kitchen or bathroom, create an open floor plan, foundation repairs, room additions, updates to old plumbing or septic, and repair of driveways or sidewalks. Standard is not capped at $35,000 of repairs but does require a HUD consultant to sign off on the project. Limited is capped at $35,000 of repairs but does NOT require a HUD consultant to sign off on project.  

FHA Reverse Mortgage: Allows borrowers aged 62 or older to purchase a home or convert equity in their home into income or a line of credit. 

FHA Good Neighbor Next Door: Discounts of up to 50% with as little as $100 down payment for HUD-owned properties.  Exclusively for law enforcement officers, firefighters, EMT’s and pre-kindergarten to Grade 12 teachers.  

FHA HUD REO: $100 down payment in select area with HUD approval.  Repair escrow of up to $10,000 is available. Must be a HUD owned property.  


All FHA loans require the borrower to pay two mortgage insurance premiums:

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