Mohsin Mortgage Provides Financing For All Types Of Borrowers
Mohsin Mortgage Corporation has come a long way in a short period of time. With their central office located in South Fayette, and a branch office in the Iceoplex at Southpointe, the mortgage broker has placed itself in the center of the growing market of Western Pennsylvania's home-buying public. They now plan to reach an even broader segment of the market with the introduction of FHA loans.
Approval to provide the FHA financing was announced on January 31, and the process to provide the FHA financing was announced on January 31, and the process to provide the new service went into effect immediately.
"We're pleased that HUD recognized our commitment to provide affordable mortgages through our experienced loan professionals who have the know how to offer the FHA loans to consumers," said Sara Mohsin, owner of Mohsin Mortgage. "Our commitment as a company is to provide the opportunity for people from all walks of life to have financing in respect to home ownership and refinancing which is provided through FHA."
Jan Tucker, the director of business development agrees, and adds that the introduction of FHA financing adds to the complete menu of services that are now available to new and existing homeowners who come to Mohsin Mortgage.
"Working with the Federal funds allows us now to provide better rates and better opportunities for homeowners from all walks of life," she said. "We're now able to supply a service to borrowers with great credit, mediocre credit, and for people who are not in a position to finance, which gives them the advantage."
Kristina Kowalski, the manager of the Southpointe office explained that FHA financing will allow borrowers to purchase homes with a minimum down payment. FHA down payments range from 1.25% to 3% of the sale price, which are significantly lower than the minimum that many lenders require for conventional or sub-prime loans.
"It also solves the problem that many Americans are coming into with not being able to refinance, because of the economic climate, and because of declines in property values," she said. "With being able to access the FHA funds, we have a new tool to be able to solve that problem."
The FHA credit requirements are flexible. The loans focus only on a borrower's last 12 to 24-month credit history. Additionally, there will be no minimum FICO score, which mortgage bankers traditionally review with each application. Kowalski said that FHA will make it perfectly acceptable for Mohsin Mortgage to provide loans through the program.
There are also no maximum income levels with FHA programs. "Many home-buyers mistakenly believe there are maximum income levels that prevent them from qualifying for an FHA loan. There are county-specific requirements, and we can supply buyers with that information," Kowalski said.
"We've been listening very carefully to our borrowers and trying to understand their needs," said Tucker. "We have worked diligently to provide the services they need, and the FHA loan program will allow any one who wants to refinance or become a home owner to have that opportunity through Mohsin Mortgage Corporation."
Mohsin Mortgage provides services throughout Pennsylvania, as well as Virginia, Maryland, Florida, Colorado, California, and Massachusetts. Information on the FHA loan program and all services being offered is available on the Mohsin Mortgage website, at www.mmcmtg.com, or by calling Jan Tucker or Kristina Kowalski toll free at 1.800.662.9550.