Why choose an FHA-insured loan?
There are lots of good reasons to choose an FHA-insured loan, especially if one or more of the following apply to you: You’re a first-time homebuyer. You don’t have a lot of money to put down on a house. You want to keep your monthly payments as low as possible. You’re worried about your monthly payments going up. You’re worried about qualifying for a loan. You don’t have perfect credit. If any of these things describe you, then an FHA-insured loan may be right for you. Why? FHA-insured loans offer many benefits and a level of security that you won’t find in other loans including: Low cost: FHA-insured loans have competitive interest rates because the federal government insures the loans for lenders. Smaller downpayment: FHA-insured loans have a low 3.5% downpayment and the money can come from a family member, employer or charitable organization as a gift. Easier qualification: Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for
