Fha

Fha

FHA stands for Federal Housing Administration. This is slightly different from a typical home loan. They in fact don’t give the actual financing to the home buyers. The FHA insures the home mortgage. In many cases this government backing will help home buyers get financing from another bank or home mortgage company.

By using FHA loan options many times it takes thousands off the cost of the home loan. The savings come from the interest with the FHA the home buyers will qualify for a lower interest rate.The FHA loan is aimed at the lower to mid income families. Most lower to mid income families don’t have the resources to come up with the large down payment. Typically the down payment on a home was about 10%. That is why it was a requirement that kept many from buying a home in the past. The FHA loan is an excellent way to help those families whose income is in the low to mid range as they may be able to buy a home for as little as 3% down. If you break down the figures on a $100,000 home you could be looking at $3000 instead of $10,000 for a down payment. That $7000 savings alone could be just the savings home buyers need to get their financing for a new home.

Fha

Fha

Fha

Fha

Fha

Fha

Fha

Fha

Fha