FHA Loans: How Can they Help You?

Do you not have enough money saved to put down a full down payment but still want a house?  An FHA loan might be the solution for you.  

Federal Housing Administration (FHA) started in 1934 and is a part of the U.S. Department and Housing and Urban Development (HUD).  The FHA  insures loans so that lenders can offer a better deals to borrowers.  

• Low down payments
• Low closing costs
• Easy credit qualifying

First Time Home Owners?
FHA can help you obtain loans with as low as a 3.5% down payment.  In addition, a large amount of the closing costs can be included in the loan.  FHA covers 1-4 unit properties.  

Got Equity?  Need Cash? 
If you are 62 or older?  If you live in the home, own it out right or have a low loan balance.  You could qualify for an FHA reverse mortgage.  This allows you to turn part of your equity into liquid assets: AKA cash. 

Wish Your House was More Energy Efficient?
FHA Energy-Efficient Mortgage can cover the costs of making your house more efficient. 

Interested in Manufactured or Mobile Homes?
There is a loan for people interested in putting the aforementioned on their own land and a separate loan for those wanting to be in a mobile home park.

Find an FHA Lender

Source: Hud.gov