FHA - Benefits
The FHA mortgage program is popular with many home buyers. Here’s a quick look at some of the key features and benefits that so many consumers enjoy:
LOW DOWN PAYMENTS ARE ALLOWED
High loan to value percentages lower the amount of money that borrowers need to save for a down payment.
GIFT FUNDS ARE ALLOWED FOR DOWN PAYMENT AND CLOSING COSTS
Borrowers can use gift funds* provided by relatives, employers, unions, charitable organizations, government agencies, and friends who have a clearly documented interest in the borrower.
FLEXIBLE CREDIT GUIDELINES HELP MORE PEOPLE QUALIFY
FHA accommodates lower credit scores** and allows alternative credit sources to be considered by lenders.
LEARN MORE ABOUT THE BENEFITS OF FHA MORTGAGES BY CONTACTING ME TODAY!
*Gifts cannot be given by an entity who has an interest in the sale of the property and no repayment of the gift is allowed.
**Certain limitations may apply to loan products for borrowers with a previous bankruptcy, foreclosure or short-sale and a higher interest rate and/or higher fees may be required.
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