FHA Loans
Purchase a home with as little as 3.5% Down
An FHA Loan is a mortgage that is insured by the Federal Housing Administration (FHA). This type of loan is popular among first time home buyers. On FHA Loans, borrowers must pay mortgage insurance premiums, which protect the lender if a borrower defaults.
FHA Loans are great for buyers with lower downpayments and can be easier to qualify for than conventional loans
Benefits of FHA Loans:
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Low Down Payments
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Less Strict Credit Score Requirements
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Sellers may contribute up to 6% towards your closing fees
Let us help make your dreams come true. Call today.
FHA Loans
Purchase a home with as little as 3.5% Down
An FHA Loan is a mortgage that is insured by the Federal Housing Administration (FHA). This type of loan is popular among first time home buyers. On FHA Loans, borrowers must pay mortgage insurance premiums, which protect the lender if a borrower defaults.
FHA Loans are great for buyers with lower downpayments and can be easier to qualify for than conventional loans
Benefits of FHA Loans:
-
Low Down Payments
-
Less Strict Credit Score Requirements
-
Sellers may contribute up to 6% towards your closing fees
Let us help make your dreams come true. Call today.
EXPECT BETTER
Conventional Loans
A Conventional Mortgage is a home loan that is not guaranteed or insured by a government agency, such as the Department of Veterans Affairs (VA), or the Federal Housing Administration (FHA). Conventional Mortgages can have a fixed rate or an adjustable rate. Conventional loan borrowers who put a 20% downpayment don’t have to pay for mortgage insurance, which is typically required with lower down payments or government-backed loans. Lenders view conventional loans as riskier because they are not guaranteed by the government if a buyer defaults, so these mortgages can have tougher requirements to qualify.
Benefits:
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Allows smaller down payments
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No Private Mortgage Insurance (PMI) with down payments of 20% or more
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PMI can be removed once you reach 20% equity
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Flexibility in terms – can select from a variety of repayment periods
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Can be used to buy primary residences, vacation homes and investment properties
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Less strict property standards
We can help you compare a variety of loan products to find the perfect match for your individual situation.