How Can Home Buyers Benefit From
Purchasing a home is an essential undertaking for first-time buyers as well as seasoned homeowners. FHA loan offers a lot of incentives and advantages, making this type of loan a perfect financing option.
Let us shed some light on the following about FHA loans:
WHY HOMEBUYERS ARE CHOOSING US?
CLOSE ON TIME
GREAT RATES & LOW FEES
EXCEPTIONAL CUSTOMER SERVICE
FHA Down Payment:
The primary and most essential expense that one can incur when purchasing a house is the down payment. Compared to other kinds of home loans, FHA loans have a lower down payment requirement, only 3.5 percent of the sales price. It is perfect for first-time home buyers as they typically do not have the money for a more substantial down payment. When individuals spend less money on a down payment, they can use the savings for other expenses related to owning a new house, like drapes, blinds, curtains, etc.
The Interest Rate of FHA Loan:
FHA Loan Application:
It has been said that an FHA loan is the most lenient among all loan programs in the market. FHA qualification guidelines are straightforward. The objective of the FHA is to make loans reasonable for many home buyers; hence, its primary focus is the ability to pay back and the credit history of the borrower. If an applicant has below-average credit, that individual can still apply for an FHA loan and qualify if they have had no delinquent payments for a year as a minimum from the date of application. Borrowers with low credit scores can apply much simpler for an FHA loan as opposed to conventional ones that typically need at least a mid-FICO score of 620.
Property Appraisal Report
A Few Myths About FHA Loans
If you are a home buyer looking for mortgage options, an FHA loan is worth considering. With low rates, low closing costs, and high seller concessions, getting an FHA-insured loan might be the way to go when financing your home purchase.
Benefits of an FHA Loan
- Easy to Qualify for;
- Guaranteed by the government making you more attractive to FHA Lenders;
- Don’t require a large down payment;
- Low closing costs;
- Predictable monthly payments with fixed interest rates;
- Insured by the Federal government.
An FHA Loan Specialist Ready To Help You
Our FHA Loan Specialists are always available to help you and answer any questions. You may contact a dedicated FHA Loan Specialist through our website or by calling us directly. You may also chat with us to get a quick answer to your questions.
We Make The FHA Loan Process Quick & Easy
Lenders often times will steer their clients away from an FHA loan due to their inexperience with the program. FHA Loans are a great source of funding for our clients. We share our knowledge and experience with FHA loans, making it easier for borrowers.
FHA Approved Lender
The Federal Housing Administration requires lenders offering FHA loans to go through an extensive approval process. We are FHA-approved and designated as a “Full Eagle” FHA mortgage lender offering FHA-insured home loans in Texas.