 |
FHA Home Financing
Get Key Info on FHA Purchase Loans & Mortgage Programs
If you are buying a home in this market you should consider the government option with FHA mortgage financing. The Federal Housing Administration has been insuring home loans since 1934. American borrowers love FHA financing because it only requires a small down-payment of 3.5% and the credit guidelines are much more flexible than compared to conventional home mortgages. Consumers also like financing with FHA because interest rates are low and the lending costs are very reasonable. Lenders also like the fact that the U.S. government shoulders some of the risk by insuring FHA financing. This enables mortgage companies to originate FHA purchase loan volumes at a rapid pace because of the security that comes with mortgage insurance premium.
 |
There is a reason why first-time buyers choose FHA for home financing almost 2 to 1. The Federal Housing Administration has remained true to their commitment to ensure that Americans get better access to affordable financing and fair lending. We provide FHA purchase loans in all 50 states to qualified applicants seeking government financing. Borrowers must pay mortgage insurance monthly with FHA financing, but it's a small price to pay to become a homeowner in the United States of America. FHA purchase loans were initially intended for buyers who would not have access to other traditional finance programs.
FHA Insures Mortgage Financing so that Americans Get Affordable Loans
The fact is that FHA has made a significant effort to stimulate home buying over the last decade. Whereas Fannie Mae and Freddie Mac have put on the breaks for low down-payment loans and mortgages for people with less than perfect credit.
We provide FHA purchase loans in all 50 states to qualified applicants seeking government financing. Borrowers must pay mortgage insurance monthly with FHA financing, but it's a small price to pay to become a homeowner in the United States of America.
Pros and Cons of Financing a Home with FHA in 2018
FHA home finance loans may be a perfect option for some, but not the best route for others. Before buying a house, it is always best for any prospective home buyer to research all of their finance options before deciding on which is the best financing path for them. While FHA home financing comes with many incredible benefits, there are also some cons that home buyers will find unsuitable for their home buying needs.
Some of the pros of financing a home with an FHA home mortgage are:
- Low financing interest rates
- No credit or low credit applicants are often still approved
- Down payment rates as low as 3.5%
- Gift funds are allowed when financing a house with FHA
- Closing costs are often allowed to be covered
|
 |
 |
|