With so many lending companies around and plenty of mortgage loans to choose from, some people still find it hard to own a home because of their credit and financial situation. While there are those that coast through conventional mortgage standards like it’s no big deal, others struggle to reach the required credit score, let alone afford the 20% down payment.…
The Federal Housing Administration created the FHA loans to provide low to moderate-income families a means to afford their own homes. Though the loans are still handled and offered by banks and private lending companies, the government insures the mortgage against future default, making it possible for lenders to be more lenient with their terms and requirements.…
The mortgage application process is usually mumbo-jumbo for first-time home buyers. Whether it’s mortgage terms, down payment requirements, or the type of home loans available, all that information can be too much for a newbie to take in. Out of all the available home loans out there, however, the FHA mortgage loan is one of the…
So you have finally decided to get a place of your own but are not quite sure where to get proper financing. If you have discussed the issue with your friends and family, chances are some of them might have told you to go for an FHA home loan and some might have suggested a…
It should come as no shock to find out that household debt continues to rise. Estimates say total household debt in America as of March 2018 is 13.21 trillion dollars. Because of such heavy debt, more and more Americans find themselves with falling credit scores and they don’t know how to fix it. In this…
Advantages of FHA Loans A Federal Housing Administration loan is originated by an FHA-approved lending institution and is insured by the federal government. Intended for low-to-moderate income households, this particular loan program calls for lower credit score and down payment requirement compared to other conventional-conforming loan programs and types. As of recently, borrowers can get up to 96.5% of a…
Regardless of whether you are a first-time home buyer or are in the market for your next home, the Federal Housing Administration has loan programs that can assist anyone who needs help with financing. That said, what exactly can the FHA do to better your circumstances?The perks of going for an FHA mortgage are plenty…
In this age of information, Americans are growing wiser when it comes to making decisions; especially financial decisions. Buying a house is one of these, and to make sure they get only the best deal, they work with no less than the top mortgage lenders in the area.If you are one of the many Americans looking for the ultimate home…
There is a lot of advantage of an FHA loan you can enjoy. FHA home loans are government-insured mortgages backed by the FHA; Federal Housing Authority. Private brokers fund the mortgages, but the government insures them against non-payment. With the advantage of an FHA loan, you can easily be able to buy your very own…
Have you ever tried to know the different types of home loans? Before 1934, the typical down payment on a U.S. house was fifty percent, and the bank expected the rest to be disbursed in 1-5 years. In 1934, the government established the FHA to improve housing states for Americans. One way it does so is by insuring home…