Buying a home with a loan program that does not require a hefty percentage of the purchase price toward the down payment could help fulfill your dream of homeownership.
FHA loans are unmatched in the marketplace when certain financing exceptions are needed to secure funding to buy a home.
Although, many first-time home buyers are unaware of the features that FHA loans offer.
Since 1934, home buyers have greatly benefited from flexible lending guidelines that are underwritten in accordance to the Federal Housing Administration.
FHA loans are ideal whether you need to obtain funding to buy a home or to refinance an existing home loan.
When buying a home, FHA loans have low-down payment requirements for borrowers who have saved less than five percent of the purchase price.
In fact, FHA loans are insured to reduce certain risks that enable mortgage lenders to accept a lower down payment from qualified borrowers who want to purchase a home.
For several decades, millions of first time home buyers have used FHA loans to make their dream of homeownership a reality.
We’re excited to display some of the benefits that FHA loans provide for first time home buyers:
Take advantage of the opportunity to secure a lower interest rate that also provides a lower payment on your home loan. If you are eligible for an FHA streamline refinance, the loan process is expedited much faster than traditional underwriting time frames.
Even if you owe more than your home is worth, you might be eligible for an FHA streamline refinance, as an appraisal will not be required to determine the current market value of your home.
FHA streamline refinance loans have minimal credit requirements to secure an approval.
Getting approved for an FHA loan will require a favorable review of your qualifications.
Without the proceeds from an existing home sale or a 10 percent down payment or greater, an FHA loan could provide the necessary funds to buy a home if you have less than perfect credit or an above-average debt-to-income ratio.
You can apply online for an FHA loan or you can call our office to get assistance from a licensed loan officer.
Perennial Funding LLC, 161 Washington St. Suite 950, Conshohocken, PA 19428
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*By refinancing your existing mortgage your total finance charges may be higher over the life of the loan.
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