New Homebuyer Mortgage Loans with FHA

First time homebuyers do not have as many home loan choices this year and FHA mortgage loans have increased in popularity because of that. Conventional and subprime loan programs have experienced a significant tightening of lending guidelines. FHA mortgage guidelines have expanded their guidelines to help more homeowners with limited and poor credit. Nationwide Mortgage Loans offers low rate FHA mortgages across the country to qualified consumers.

* Buy a House with a 3.5% Down-Payment
* Discounted Home Prices Nationally
* Reduce Mortgage Insurance Premiums
* Lowest Interest Rates in 30-Years
* No Pre-Payment Penalties
* Flexible 1st Time Homebuyer Loans

Ask your Nationwide loan officer about state specific loan incentives that may enable you to qualify for an even lower mortgage payment. HUD regulates the loan amount limits that vary from state to state based on cost of living conditions. 1st time homebuyers continue to utilize FHA mortgages for new home purchase loans. Choose from 15 or 30-year fixed mortgages that have payments amortized with both principal and interest taken out of each monthly payment. Get a no cost on a first time home buyer mortgage now.

Affordable FHA Home Purchase Loans with Great Rates and Terms!

We continue to provide a multitude of government mortgage loan options that ensure competitive interest rates with loan amount limits that are state specific.

Top 5 Reasons First Time House Buyers Like FHA Loans

There are several reasons that first time and experienced home buyers prefer FHA loans when financing or refinancing a home. The top 5 reasons that house buyers prefer FHA loans are:

  1. Affordable Down Payments When mortgaging a home, whether it is a first time home buyer or a more experienced home buyer, a person is often required to pay a down payment on their home purchase. Often, this down payment amount can be as much as 20% of the cost of the home, plus closing costs, making this a difficult to save for amount that can often take people years to save up for. However, an FHA loan has a notably low down payment amount that is often only 3.5%, allowing those looking to buy a home a more affordable down payment option. People love low deposit requirements and therefore FHA home buyer loans make sense.
  2. Low Mortgage Interest Rates The interest rates involved with an FHA loan are often very affordable, and when paired with the highly affordable down payment rate, an FHA loan can make home ownership a much more financially achievable feat. The interest on a 30-year fixed mortgage using an FHA loan is around 5%, which is very similar to the interest rate found on a non-FHA traditional home loan. However, when opting for a traditional non-FHA loan, a person must also pay the much higher down payment.
  3. Relaxed Credit Requirements In this day and age, mortgage companies are requiring those looking for a loan to have exceptionally high credit scores and little to no debt. However, day to day life will often include student loan debts, credit card debts, and other debts, and while many people have good credit scores, they can still find it difficult to get a mortgage to purchase a house. FHA home buyer loans, however, have far more relaxed credit requirements, making it easier for people to get the loan they need to close on the home they want.
  4. Federal Government Insurance FHA home buyer mortgages are insured by the Federal Housing Administration, making them backed by the federal government. This type of insurance allows lenders to protect themselves from loss should their borrower default on their loan. This aspect is attractive to sellers, as it allows them to feel more comfortable with selling to first time home buyers.
  5. Some Closing Costs Could Be Covered An FHA loan may allow some closing costs on a home to be covered by the lender, seller, or builder of the home. These incentives may be offered by a building company to entice buyers to purchase one of their new homes, and if these incentives are offered, your FHA loan interest rates will not be affected.
New FHA Mortgage Loan Limits for First Time Homebuyers
Select a state below to get specific details for the recently increased FHA loan limits. FHA mortgage restrictions do vary by county and state, so select one of the state links below to get started.
Alabama Alaska Arkansas
California Colorado Connecticut
Delaware Georgia Idaho
Indiana Illinois Louisiana
Maryland Maine Missouri
Massachusetts Minnesota Montana
Nebraska Nevada New Jersey
New Mexico North Carolina North Dakota
Oklahoma Rhode Island Oregon
South Carolina South Dakota Utah
Tennessee Texas Vermont
Virginia Washington West Virginia
Wisconsin Pennsylvania Ohio

 

Podcast: Loan Talk

Press Play To Hear Podcast


Resource Tools


Loan Comparison Calculator
This calculator will help you to compare the total mortgage interest charges of several types of home purchase loans.

Bad Credit Refinancing
Second Chance Mortgage
Zero Down Home Loans

1st Time Home Buyer Loans

Take advantage of our free guides and disclosures that help 1st time homebuyers.


Understanding Credit Scores
ARM Rate Mortgage - Guide
Consumer Guide -Rate Locks
Additional FHA Product Pages:
FHA Refinancing Loans | 203K FHA Home Improvement Loans | FHA Streamline Refinance | Government Mortgage | 30-Year FHA Rates | Get Pre-Qualified for a FHA Mortgage | Down Payment Requirements on a FHA Loan | Pre-Approval Letter for a Home Loan with FHA | FHA Loan Qualification
Other Popular FHA Mortgage Products:
New Homebuyer FHA Mortgage Loans | No Credit Home Loans | NO Credit Score FHA Mortgage Loan | Second Chance Mortgage
Jumbo FHA Mortgage Loan | Fixed Thirty Year FHA Mortgage | FHA Mortgage with No Early Payoff Penalty
Apply Now | Disclosures and Terms | About Us | Contact Us | Privacy
BD Nationwide Mortgage, 515 Encinitas Blvd. Ste 100, Encinitas, California 92024
Please be aware that this is not an advertisement for credit. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and no loans can be guaranteed as loans and rates are subject to change. Nationwide is affiliated with national lenders and a federally chartered bank located in Maryland licensed to offer home loans in all 50 states. Copyright © 2001-2013 and Beyond, Nationwide Mortgage Loans - BDnationwidemortgage.com is a website and cannot make loans. All rights reserved.