Even if you don’t have a lot of money saved for a down payment or have less than perfect credit, there is a loan option that may allow you to move into your dream home. The mortgage professionals at Silex Financial can help you determine if you qualify for a Federal Housing Administration (FHA) mortgage. This type of home loan comes with many benefits and protections:
Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for you to qualify.
You don't have to have a perfect credit score to get an FHA mortgage. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an FHA loan than a conventional loan.
FHA loans have a low 3.5% down payment and that money can come from a family member, employer or charitable organization as a gift. Other loan programs don't allow this.
FHA loans have competitive interest rates because the Federal government insures the loans. Always compare an FHA loan with other loan types.
The FHA has been around since 1934, and will continue to be here to protect you. Should you encounter hard times after buying your home, FHA has many options to help you keep you in your home and avoid foreclosure.
Silex’s mortgage professionals oversee every step of your loan process. From consultation to closing, we stay on top of your transaction to make sure everything goes smoothly and you are in the home of your dreams as quickly as possible.
For answers to some common questions: