Why FHA??                                                                                    

FHA is one of the best loan programs for buyers today. FHA stands for Federal Housing Administration. FHA is part of HUD Housing and Urban Development. The FHA loan was developed for home owners to secure affordable loans to purchase home. For many years FHA has been the back bone for home owners in America.

Benefits to the FHA loan

Currently FHA only requires a minimum down payment** of 3.5% which is a very low down payment requirement.  The Down Payment can come from family members, close friends, employers, churches and other non profit sources.

FHA is flexible for credit challenged buyers. FHA buyers are not required to have high credit scores. It is true credit scores are becoming more important, FHA still offers financing for buyers with less than 600 credit scores.

Low Fixed Rates. FHA loans are among the lowest rates for 30 year fixed mortgages today. FHA also offers ARM loans and 2-1 buy downs.

Very Affordable Mortgage Insurance. Compared to other loans that require Mortgage insurance FHA’s mortgage insurance is more affordable.

Flexible Underwriting. The FHA loan was designed to be a loan that would help people become Homeowners. The underwriting can be more flexible and is more forgiving than other types of loans. FHA underwriters are able to look past just a credit score to understand past situations.

Let’s see if a FHA loan is the Best Loan for You.