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FHA Loan

Fixed Rate Loan: 10, 15, 20 or 30 Year Terms

The Federal Housing Administration insures a wide variety of mortgages. These loans are designed to meet the needs of home buyers with low to moderate incomes.

  • Low, fixed rates 
  • Low down payment requirements
    • Minimum 3.5% down payment required
  • Gift funds allowed to be used towards closing costs
  • Minimum credit score of 600 to qualify
  • Maximum debt-to-income ratio of 50% to qualify
  • Up-Front Mortgage Insurance Premium (MIP) of 1.75% (rolled into the loan) and Mortgage Insurance Premium (MIP) .85% paid monthly

There are many of good reasons to choose an FHA-insured loan, especially if one or more of the following apply to you:
  1. You're a first-time home buyer.
  2. You don't have a lot of money to put down on a house.
  3. You want to keep your monthly payments as low as possible.
  4. You don't have perfect credit.


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