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FHA Loans

 

The Federal Housing Administration (FHA) insures the loans for this program making it possible for buyers who may have limited cash availability, low to moderate income, and lower credit scores to purchase a home.

Take a look at the many great benefits of using the FHA Loan programs:

  • Easier borrower qualification
  • Low minimum down payment requirement- just 3.5%!
  • Gifts and government down payment assistance are acceptable sources for the down payment
  • Great rates that are comparable to conventional loan rates
  • Lower mortgage insurance premiums, and under certain conditions, automatic cancellation of the premium
  • Limited closing cost fees (e.g., the origination fee cannot exceed 1% of the mortgage loan)
  • Loans can be assumable to qualified buyers
  • State down payment assistance programs, like MSHDA , are allowed
  • Renovations and repairs can be included when financing with the FHA 203k Renovation Loan

Contact me today to see if this is the right loan program for you!

 

 

Latest Blog Post

July Lunch And Learn: Options For Every Home Buyer

OPTIONS FOR EVERY HOME BUYER

AS A REALTOR, HAVE YOU EVER WONDERED WHY BUYERS FIT INTO ONE PROGRAM VS ANOTHER?

Every home buyers scenario is different.  When first meeting with a buyer we take a deep dive into there personal financial information.  The personal financial information is going to determine our limits for the different loan programs.  However, there is much more to it.  When we meet we also go over their wants, dreams, and future goals.  Here are just a handful of questions that then help to determine the loan program.

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