Is there a difference between a regular home loan and an FHA Loan?
Aside from which lenders establishes the underwriting parameters for the loan, the differences involve the maximum loan amount, the types of mortgage programs available and the loan being insured by the FHA approved lender, the biggest difference is that far more people will qualify for an FHA insured loan than will qualify for a regular conventional mortgage. And, The FHA mortgage program offers the same rates or betterof interest. FHA is easy to qualify for, the program was created to help to increase homeownership in the United states. FHA program makes buying a home easier and less expensive than other types of real estate mortgage Programs. Some examples include,
Minimal Down Payment and Closing Costs.
- Down payment less than 3% of Sales Price and 100% Financing options available
- Gift for down payment and closing costs are allowed up to 6% of Sales price.
- No reserves or savings required.
- Easy Credit Qualifying Guidelines
- No minimum FICO score or credit score requirements.
- FHA will allow a home purchase 2 years after a Bankruptcy.
- FHA will allow a home purchase 3 years after a Foreclosure.
To learn more, give us a call at 1-800-570-0448 or use our quick application to have a mortgage originator contact you at your earliest convenience.
http://www.FHAmortgagePrograms.com | 
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