FHA Financing.

If you are looking at purchasing a home with minimal down you need to be considering FHA financing and here is why.  For certain borrowers with credit less that 680 it is a wonderful program even if you plan on putting 5-10% down because of the reduced mortgage insurance.

1. Allows for only 3% down and if you do not have the down payment it can come in the form of a gift from any family member.

2. Allows for down payment assistance which actually allows for 100% financing.

3. Reduced mortgage insurance compared to all other conforming/conventional programs.

4. Allows for non-occupied co-borrowers.

5. Less strict credit requirements.

6. Not as strict lender and underwriting requirments.

7. Competitive fixed rate with terms of 30, 20 and 15 years.

8. The loan is assumable.

9. Allows for the purchase of 1-4 unit properties.

If you have any questions about what is the best financing option for you please feel free to contact me toll free at 1-800-451-6347 or simply fill out the form below and i will contact you shortly.  I can generally provide you a "Total Cost Analysis in less than 2 hours.