The mortgage industry has changed so much in the last few months that an Appleton FHA mortgage has become the new low down payment mortgage option.
Appleton FHA loans offer:
Low rates
Low mortgage insurance and many other benefits
If you don't have the 3.5% needed for the down payment it can be gifted by a family member or friend. All around FHA is one of the best Appleton mortgage programs and it's not a difficult loan to understand or obtain.
The Appleton FHA Program applies to owner occupied properties and can be utilized multiple times:
You can qualify for 1 to 6% credit toward: earnest money, application fees, mortgage insurance and tax credit
There are minimal closing costs
Any buyer not just the first time home buyer
A co-mortgager or co-signer can be a non-occupant
Interest rates are lower and are equal to or better than normal financing
FHA can qualify for one to four unit properties and HUD approved condos
There are NO reserve requirements (unlike conventional which requires 1or 2 month reserves)
Gift funds are allowed for the entire down payment but must be family member
Only the VA and FHA loans are assumable (could be an advantage to either buyer or seller)
FHA max loan limits by county can be searched here: https://entp.hud.gov/
For more information on Appleton FHA refinance, FHA cash out refinance and FHA purchase loans please visit our site at http://www.madisonmortgageguys.com.
Also view our other Government Loans including VA and Rural Housing: http://www.madisonmortgageguys.com/
Your Local Wisconsin mortgage banker:
Toll Free: (877) 240-5810
info@madisonmortgageguys.com
http://www.madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/
FHA loan limit announcement on our website at http://www.madisonmortgageguys.com/
Additonal FHA details on our FHA page: http://www.madisonmortgageguys.com/
FHA Refinance, FHA mortgage, FHA loans in Appleton Wisconsin
