FHA & Other Creative FHA loans are backed by the Federal Housing Authority. FHA has been insuring mortgages since 1934 to help families and individuals become homeowners. It continues to be a popular homebuyer choice.
When you attend we will cover the following topics:
- Low down payment of 3.5%.
- Variety of loan terms.
- Requires upfront and monthly mortgage insurance.
- Flexible income, debt and credit requirements.
- Down payment and closing costs may come from a gift.
- Fixed rate and adjustable rate loan options are available.
- Seller contributions for closing costs are acceptable up to 6%
- Requires less cash up front for your closing costs and down payment.
- All income levels qualify.
- Mortgage limits vary by county.
- Loans are assumable when it’s time to sell your home.
- A non-occupant co-borrower can assist you in qualifying for the loan.