FHA Loans
Choosing FHA Financing for your home loan is a wise decision. The costs associated with the FHA Loan Program differ from other types of home financing. Benefits may include the following:
- Smaller down payments (3.5%)
- Attractive interest rates
- Flexible source of down payment including gift funds
- 6% seller contributions (seller can pay closing costs so you don't have too)
- Flexible credit and income guidelines
- No reserve requirements
- Purchase or refinance
- No income limits
- No 1st time home buyer requirement. Many move up buyers benefit from FHA.
All of these benefits mean less money is required from you for loan approval and at the closing!
