There are lots of good reasons to choose an FHA-insured loan, especially if one or more of the following apply to you:
- You're a first-time homebuyer.
- You don't have a lot of money to put down on a house.
- You want to keep your monthly payments as low as possible.
- You're worried about your monthly payments going up.
- You're worried about qualifying for a loan.
- You don't have perfect credit.
If any of these things describe you, then an FHA-insured loan may be right for you. Why? FHA-insured loans offer many benefits and a level of security that you won't find in other loans and loan modifications in Newport Beach, including:
- Low Cost: FHA-insured loans have competitive interest rates because the federal government insures the loans for lenders.
- Smaller Down Payment: FHA-insured loans have a low 3.5% down payment and the money can come from a family member, employer or charitable organization as a gift.
- Easier Qualification: Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for you to qualify.
- Less than Perfect Credit: You don't have to have perfect credit to get an FHA-insured mortgage. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an FHA-insured loan than a conventional loan.
- More protection to keep your home: The FHA has been helping people since 1934. Should you encounter hard times after buying your home, the FHA has many options to keep you in your home and avoid foreclosure.
- FHA insures loans for lenders against defaults: FHA does not lend money or set interest rates. For the best interest rate and terms on a mortgage, you should compare mortgages from several different lenders. An FHA-approved lender can help you start the loan application process.
- Purchase or Refinance: You may use an FHA-insured mortgage a new or existing 1- to 4-unit home, a condominium or a manufactured or mobile home (provided it is on a permanent foundation).
For more information on FHA Programs Call us Toll Free at 1-800-719-1190 or email us at Info@CreditReliefGroup.com
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