To get one of the best mortgage Fha loan , just look around for mortgage banking lenders online; authorized to make similar Fha loans. You have several popular home loans to choose from based on the type of real estate you’re buying. Fha does not directly fund these loans, they just guarantee that you would make the payments and keep up with the mortgage terms. If you default Fha would pay the lenders and repossess your home.
Why You’re Better Off with first time home buyer fha loans
Most lenders cannot match the terms of most Fha loans. With a downpayment requirement of as low as 3.5% and sometimes allowable closing cost of up to 6% from the seller, it is simply a win win for the first time buyer. Fha real estate loans offers buyers lowest rates than any other home loans on the market today.
Types of FHA Loans for first time home buyer fha loans
Fha provides many home loan programs you can select from. The standard 30 yrs or 15 yrs mortgage is available at fixed low rates. You can also ask for adjustable loans, if that is to your liking. If you’re buying a fixer upper, you can apply for the 203k Fha mortgage loan that includes the renovation cost in the mortgage financing.
Learn here all the FHA Loan Qualifications. (http://www.fhaloansqualifications.org/