With the demand for affordable home financing being more important than ever, Americans have turned to FHA mortgage loans for first time home buying and no equity refinancing. New home buyers choose FHA because the down-payment requirement is minimal. Most FHA mortgages only require a 3.5% down-payment on purchase transactions.
Homeowners like FHA mortgage programs because they are more forgiving than traditional lenders when it comes to home equity and credit score requirements. Borrowers with credit scores of 500 and greater are eligible for FHA mortgage loans. For borrowers who already have a FHA loan, refinancing is easy with the streamline program that often requires no appraisal or income documentation. FHA rate opportunities have never been more attractive, so take advantage of our free loan quote from one of our friendly loan officers. The Federal Housing Administration insures FHA refinancing and home purchase loans for borrowers with all types of credit. Don't overlook these unique opportunities because FHA is paving the path to homeownership and helping existing homeowners save money with secure refinancing solutions.
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