An FHA Loan may be a great solution for you if:
- You’re a first-time or repeat homebuyer; or
- You have a lower credit score; or
- You want a low down payment; or
- You want to refinance a high-cost mortgage.
FHA Loan benefits and features:
- Low down payment: Minimum is 3.5% of the purchase price. Mortgage insurance is required.
- Lower credit scores: Minimum is 580. Scores below 580 may still qualify, but the minimum down payment would be at least 10%. Restrictions apply.
- 100% gift funds are acceptable for down payment and closing costs.
- Fixed-rate and adjustable-rate mortgages (ARM) available.
- Flexible qualification guidelines.
- Other requirements and conditions apply.
CALL YOUR ACADEMY LOAN OFFICER today for more information about FHA Loans.