If you are looking to purchase your first home or re-enter the homebuyer market, an FHA loan may be what you need to meet your budget. Unlike a standard mortgage loan, FHA can offer a reasonable rate for those who might not have the most established or spotless credit history. You may also want to consider an FHA if you’re a repeat buyer with a strict budget.
Some of the many benefits future homeowners might find with the option of an FHA Mortgage are:
- Fixed and adjustable-rate programs
- Down payment and closing costs may be a gift / Or 401K loans
- No income limits
- Not limited to First-Time Homebuyers
- 6% Seller Concession allowed
- Grants allowed
- Credit score as low as 500
- Foreclosure, short sale ok after 3 years of discharge
- Bankruptcy ok after 2 years from the day of discharge
- 1 to 4 Family properties ok – ask about our Mixed-Use Products – Condo’s ok if approved
- Flexible ratios
- 203K Loans available
