FHA Loans

A FHA Loan is a loan backed by the government.  These loans are particularly beneficial to first time home buyers because they are designed to include a lot of stability.  The typically have fixed rates, low closing costs, and small down payments.  These loans are mostly utilized for primary residences and they can also be used for refinancing for home improvements.  The FHA Loans are nice because they are obtainable even for people with poor credit.  They are intended for those with a minimum credit score of 620 and have a high debt to income ratio.

FHA Loans are appealing because they are quick and simple and require a minimum down payment of only 3.5%.  FHA Loans also accept down payments and closing costs as gifts from relatives.  If you think this could be the loan for you, call us today and we’ll help you get started and into that new home.

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