FHA

Don’t let a low down payment, lack of credit history, or inability to cover closing costs keep you from buying a home. With an FHA loan, you still may qualify. That’s because FHA loans were developed to promote home ownership by providing an alternative to conventional financing, which has stricter qualification requirements.

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FHA Loan Benefits:

• Down payment as low as 3.5 percent. Down payment can also be a gift from parents or relatives.

• Looser credit qualifications than conventional loans.

• Lower closing costs.

• Private mortgage insurance (PMI) can be paid in cash or financed as part of the loan.

• Choose from fixed or adjustable interest rate.

• No prepayment penalties.

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For more information about FHA loans, including complete eligibility requirements, contact us today.