Home Loans - Buy a Home
There are many good reasons to buy a home with an FHA loan:
- You are a first time home buyer
- You don't have money for a large down payment
- You want the lowest possible monthly payment
- You are worried about qualifying for the loan
- You don't have perfect credit
The Federal Housing Administration has helped millions for Americans secure their dream of homeownership since 1934.
FHA loans offer many benefits and protections you will not find with other loan products.
Small Down Payment: You can put as little as 3% down and the money can be gifted to you by your family members, employer or charitable organization. Other loan products will not allow you to do this.
Lower Cost: FHA rates are always competitive.
Easier Qualification: FHA loans have terms that make it easier to qualify.
Credit Problems: You don't have to have perfect credit, even if you have had a bankruptcy, it's easier to qualify for an FHA loan than a conventional loan.
Types of FHA Loans
Fixed Rate - A fixed rate mortgage keeps your interest rate the same during the loan period, usually 30 years. This keeps your monthly payment the same for the life of the loan.
Adjustable Rate - If you are a little stretched financially, you may want to consider an adjustable rate loan. This will start you out with the lowest possible monthly payment.
Speak with an FHA licensed professional today.
