FHA, the
Federal Housing Administration, allows buyers who might otherwise not qualify
for a home loan to obtain one because the risk is removed from the lender by
FHA.
The most popular FHA loan
requires a minimum 3% down payment, but allows 100% of all funds needed to
close (down payment and closing costs) to be a gift from a relative,
non-profit organization or government agency.
The credit criteria of the
FHA loan is much less strict than most conventional loans and the rates of FHA
loans tend to be very comparable to buyers with excellent credit who put down
20%! In addition, our experienced loan officers can offer professional
help throughout the purchase process.
