Benefits of FHA Loans?
Federal Housing Administration (FHA) insured loans are made by private lending intuitions such as banks, savings & loans, or mortgage companies to eligible borrowers for the purchase of a home. FHA insured loans offer a number of benefits for both lender and borrowers. Since 1934, the program has insured over 35 million home mortgages.
In addition to the favorable financial terms, FHA insured loans offer the following benefits:
Equal opportunity for all qualified borrowers
Required down payments as low as 3.5% of the purchase price
Ability to finance up front Mortgage Insurance Premium
Ability to finance the cost of repairing and / or improving a property in need of rehabilitation
Right to prepay without penalty
Credit Improvement in the qualifying process for some borrowers
Availability in all areas of the country
Default assistance and foreclosure prevention
Call me today to learn more about homeownership and what options you may have through the FHA program.