Don't Think You Can Buy a House?
Maybe You Can With An FHA Loan!
Many people are not aware that the federal government wants all Americans to be able to buy their own homes. As a result, there are loan programs to help those with lower incomes, less than perfect credit and other situations that might barr them from obtaining a conventional mortgage loanl.
There are lots of reasons to ask your lender for an FHA loan instead of taking a conventional or an expensive and risky sub-prime mortgage loan. Why not take advantage of the many benefits and protections that only come with and FHA loan, such as the following:
Easier to Qualify for an FHA Loan
Because FHA insures your mortgage, lenders are more willing to give loans with lower qualifying requirements so its easier for you to qualify.
Less than Perfect Credit Is Accepted
Even if you have had credit problems, such as bankruptcy, its easier for you to qualify for an FHA loan than a conventional loan.
Low Down Payment
An FHA loan requires a low 3% down payment, and that money can come from a family member, employer or charitable organization. Other loans don't allow this.
Costs Less
Many times, FHA loans have competitive interest rates because the loans are insured by the Federal Government. Always compare an FHA loan with other loan types.
Help You Keep Your Home
The FHA might be able to help you keep your home should encounter hard times after buying your home or avoid foreclosure.
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