What is An FHA Loan?
A Federal Housing Administration (FHA) loan is a mortgage guaranteed by the U.S. government. The FHA was created to help homebuyers with less than perfect credit or those who don't have a lot of cash for a down payment.
A conventional loan typically requires a 10% down payment where an FHA loan is 3 1/2% down. You can see why these have become very popular, especially with first time buyers. Other requirements are usually easier to meet also.
Give me a call and I'll give you some names of lenders who can determine if an FHA or other type of loan program is the best fit for you.
A Federal Housing Administration (FHA) loan is a mortgage guaranteed by the U.S. government. The FHA was created to help homebuyers with less than perfect credit or those who don't have a lot of cash for a down payment.
A conventional loan typically requires a 10% down payment where an FHA loan is 3 1/2% down. You can see why these have become very popular, especially with first time buyers. Other requirements are usually easier to meet also.
Give me a call and I'll give you some names of lenders who can determine if an FHA or other type of loan program is the best fit for you.
