Learn More About FHA Home Loans
Learn more on FHA Home Loans.
Why choose FHA Loans? If you are in the following scenario and wish to get assistance :-
1) 1st time home buyer, FHA provides guidance & services helping you to overcome your problems.
2) Wish to keep the monthly installments as low as possible.
3) having a bad credit & worry about your qualifying.
4) Worried about what will happen if failure of repayments.
5) Don't have sufficient money to put as a deposit.
6) Worried about the interest rate increasing.
By the reasons stated above, you are encourage to choose FHA.
Advantages of FHA Loans
1) The easiest and quicken way for home buying and refinance.
2) Loan amount for home buying up to 96.50% of the home value. For refinance, loan amount up to 97.75 of the home value.
3) Get the lowest interest rate for refinance.
4) For refinance, FHA allow you to take out cash around 85% of the loan.
5) 1st time home buyer will get tax credit up to $8,000.00, for others will get tax credit around $6,500.00
Similar to other equity home loans, FHA also offering fixed rate & adjustable rate options.
The interest rates of fixed rate loans are remained the same for whole tenure, much easy to monitor and you know exactly how much to pay each month. The installment period up to 30 years.
For adjustable rate loans are more suitable for 1st time buyer. Initially the interest rate is lower, and it will keep increase after certain period.
The other special loan offering by FHA is Purchase-rehabilitation loans. These loans are combined home mortgage & cost of repairing together. If you bough a home which needs a lot of repairing works, these loans suit you the most.
For more FHA loan information, please check out
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