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Finding a great home loan involves careful consideration of your needs, finances and history. We are here to guide you.

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We get a lot of inquiries about FHA loans, so we put together this FAQ guide to answer the most common questions we receive. 

1. Low Down Payment
2. More Flexible Guidelines
3. Gov’t Insured
4. Gift Money Allowed

What is the FHA?

  • FHA stands for the Federal Housing Administration. It was created in 1934 to help Americans get into homes.

What makes a FHA insured mortgage beneficial?

  • A FHA insured mortgage is easy to qualify for, can be obtained with less than perfect credit, costs less and requires a smaller down-payment.

Where can I find FHA forms and other literature & who qualifies for FHA loans ?

What is the FHA loan limit in my area?

  • The loan limit across the country is different. Click here to see limits in your area.

Can I pay an FHA loan off early?

  • Yes, however be sure to check the pre-payment section of your contract before signing.

Can a FHA insured loan help me lower energy costs?

  • Yes, through the Energy Efficient Mortgages Program you can finance 100 percent of the cost of making your home more energy efficient. Contact us to see how.

Is there a FHA program to help me refinance my loan?

  • Yes, the recently create FHASecure is one of the ways that we can help you refinance your current home loan. Contact us now to see what we can do for you.

Can I refinance a fixed rate FHA loan?

  • Yes. Talk with one of our professionals today to see if refinancing makes sense for you.

What is the recommended debt-to-income ratio for FHA loans?

  • The recommended debt-to-income ratio for a FHA loan is 30%.

Are FHA loans assumable?

  • Absolutely, you can assume an existing FHA loan or allow a buyer to assume yours.

Will I have to pay mortgage insurance with an FHA loan?

  • Yes, in fact FHA mortgages often require you to carry mortgage insurance for longer than most conventional loans.

Can I get a “fixer-upper” of a home with a FHA mortgage?

  • Yes, however you might be required to fix certain problems in the home before you can get the full loan. Speak with us today for details on this.

Begin your home loan process today! Our mortgage advisors are standing by. Request a free personalized rate quote.

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Current Locations:

Bloomfield, New Jersey
Call: (800) 254-3150

Bayonne, New Jersey
Call: (800) 254-3150

Westfield, New Jersey
Call: (800) 254-3150

San Juan, Puerto Rico
Call: (800) 254-3150

Paramus, New Jersey
Call: (800) 254-3150

Secaucus, New Jersey
Call: (800) 254-3150

About Us:

Aceland Mortgage LLC, (formerly known as Aceltis Financial Group, Inc.) is a mortgage company dedicated to providing our clients with the latest mortgage products at competitive rates with unparalleled knowledge and support.

Company NMLS: 1896199

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Loan Options:

FHA HOME LOAN
First Time Home Buyer
Fixed Rate Mortgage
Jumbo Home Loan
Low Down Payment Purchase Options
Refinance
Rehab Loan
Usda Loan
Va Home Loan

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NMLS #1896199 Licensed Correspondent Residential Mortgage Lender in NJ (by the NJ Department of Banking and Insurance). Equal Housing Opportunity Lender. When and if acting as a broker, Aceland Mortgage LLC will not make commitments or fund mortgage loans. We are licensed in FL, CT, PA, PR (Puerto Rico)

This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

Loans are arranged through 3rd party lenders.


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