Whether you are a first-time homebuyer or have owned a home before, you can purchase a Primary Home with FHA Financing. Purchasing a home for the first time or at any time, can be an overwhelming process for some. That is why we make sure to walk you through the process from beginning to end and answer any questions you may have.
An FHA loan is a specific mortgage product insured by the Federal Housing Administration and there are many advantages to an FHA loan such as:
- Credit Scores as low as 500 are acceptable with 10% down
- Credit Scores as low as 580 are acceptable with minimum 3.5% down
- Interest rates lower than Conventional Financing programs
- Up to 6% seller contributions towards buyer's closing costs allowed
- Gift of funds are allowed, if needed for down payment and/or closing costs.
FHA Mortgage Acceptable Property Types:
- Single Family Homes
- Condos / Apartments
- Duplex, Triplex, 4-Plex