Would An FHA Loan Make Sense For You?
With interest rates being so low, buying a home is actually cheaper when compared to renting. FHA loans are designed to give the average person an affordable mortgage option so that they can purchase a primary home. FHA loans offer smaller down payment options and more flexible income criteria, even if you have a limited credit history or a lower credit score. Closing costs may be covered and co-signers do not have to occupy the residence. This allows parents to cosign on home loans for their adult children. In general, FHA loans can be your doorway to home ownership, even if you do not meet the stricter guidelines for conventional loan options.
If you thought that there was no way you could get a home, because of a low credit score, or the inability to come up with a big down payment, then there may be hope for you, because an FHA Loan may be the perfect solution.
We all have to start somewhere, and the vast majority of us are not able to finance our dream home in the very beginning.
An FHA Loan can help you get started with your first home, or help you get back on your feet after a financial setback.
Call 509-926-1755 or 800-469-0409 to speak with one of our licensed mortgage professionals or complete the quick apply form now.