*Click on the program above to see more details.*
FHA - Federal Housing Administration
The Federal Housing Administration (FHA) historically has allowed lower income home buyers to borrow for the purchase of a home that they otherwise could not afford. As today’s credit markets continue to evolve, FHA primarily serves as an outlet for home buyers who cannot afford a conventional down payment, or otherwise do not qualify for Private Mortgage Insurance (PMI).
FHA Advantages:
Low down payment requirements: 3.5%
Gifts may be used for entire down payment
Sellers may contribute up to 6% of the purchase price to cover closing costs and pre-paid items
Competitive Interest Rates
Subsidized Mortgage Insurance may provide a lower monthly payment
FHA Streamline Refinance
Take advantage of today's low rates, even if you owe more on your home than what it's worth!! If you currently have an FHA Mortgage and you've been paying on-time, FHA will allow you to "streamline" into a new FHA loan at lower rates!
FHA Streamline Advantages:
NO income verification (employment verification will be required)
NO asset verification
NO appraisal required when new loan amount does not exceed original loan amount
Contact Us Today to learn more about FHA Mortgages.
Back to Loan-Programs
|
