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Mailing Address

VITEK Mortgage Group
Corporate Office

3 Parkcenter Drive
2nd Floor
Sacramento, Ca 95825
Toll Free: (800) 570-5300

Language of your Mortgage Loan Originator:

Customer Login - Coming soon!

You will be able to log in for up-to-the-minute updates on your loan in process and easily submit needed documentation to us to help ensure a faster transaction for you. This new state-of- the-art communication system will also support our efforts toward complete paperless transactions and helps us further our Think Green initiatives!

FHA

FHA

FHA home loans are a great option for many homebuyers and homeowners looking to refinance!


Although the FHA home loan program was originally designed for first-time homebuyers, that is not the case today. Many first-time homebuyers and move-up buyers are choosing to take advantage of FHA's loan program benefits and low down payment. Whether you are looking to refinance your existing FHA home loan, or purchase a new home, an FHA home loan may be a great option.

FHA Purchase Loans - If you are looking to purchase a home, there are many reasons why FHA home loans have become so popular today:

  • Down payment as low as 3.5%
  • Qualified buyers can combine FHA with certain down payment assistance programs1
  • Fixed interest rate
  • Primary residence only
  • Loan limits vary by county
  • Elligible borrowers can purchase again only 3 years after a foreclosure or short sale
  • Seller can pay up to 6% (Lower of sales price or value) towards costs such as interest rate buydown, closing costs, mortgage insurance1
  • FHA’s Standard 203(k), Limited 203(k), and Energy Efficient Mortgage (EEM)2 programs allow you to finance repairs and renovations to your home1
  • Down payment funds may be in the form of a gift from an eligible gift donor3

FHA Refinance Loans - FHA insures several different types of refinance transactions including:

  • Streamline refinances of existing FHA-insured mortgages - Can be made without an appraisal, which especially helps homeowners who owe more than their home is worth.
  • No cash out refinances of FHA-insured mortgages - Proceeds are only used to pay existing liens and costs associated with the transactions. Maximum loan amounts are allowed up to 97.75% of the appraised value.
  • Cash out refinances - Loan amounts are allowed up to a maximum of 85% of the appraised home value.

Limited 203(k) - Can be used for non-structural basic repairs under $35,000. Below is a partial list of eligible repair items:

  • Repairs to roofs, gutters and downspouts
  • Painting, interior and exterior
  • Minor remodeling, such as kitchens, which does not involve structural repairs
  • Repair/replace/add exterior decks, patios, porches
  • Weatherization: including storm windows and doors, insulation, weather stripping, etc.
  • Purchase and installation of appliances: Ranges, refrigerators, washers/dryers, dishwashers and microwaves, which may be free-standing
  • Existing HVAC systems
  • Flooring
  • Septic systems an/or well repair or replacement
  • Window and door replacements

Standard 203(k) - A great option for homes that need substantial structural repairs and/or renovations by allowing you to finance the repairs into your FHA home loan.* Typical repair/renovation items that make the FHA Standard 203(k) loan program an ideal option include:

  • Roof Replacements
  • Kitchen Remodel
  • Bathroom Remodel
  • Room Additions
  • Foundation Repairs
  • Electrical Systems
  • Heating and Air Conditioning Systems
  • Window or Door Replacement
  • Plumbing
  • Insulation Applications
  • And Much More!

As a direct lender of FHA loans, we underwrite and fund your FHA loan in-house. To learn more about FHA loans and the benefits to you, talk with your mortgage loan originator or contact us today.

1Restrictions apply. All features listed do not apply to every loan situation. 2The value of energy saved must be greater than the cost of improvements, according to FHA guidelines. Cost may be added to the mortgage amount per FHA’s maximum calculations. 3A list of eligible gift donors may be found in FHA Handbook 4000.1. Ask us for more details. Program guideline information may change without notice. Please contact us for the latest program guidelines.