Why FHA

First Time Home Buyer

To Get Pre-Approved For An FHA Mortgage Loan, CLICK HERE!

VA loans allow for 100% financing, and no monthly mortgage insurance premiums.
FHA loans allow for a 3% down payment. (This goes to 3.5% on 1/1/09)
FHA Loans allow for all of your down payment to be a gift from a family member, a private family 2nd lien, or a grant from several approved Non-Profit or Grant Agencies.
Since these programs are government insured, the interest rates and terms are highly competitive
You can secure these loans only 2 years after a bankruptcy discharge, and 3 years after a foreclosure.
These loans are assumable, with certain restrictions. If interest rates rise in the future, you are in great negotiating position when it comes to selling your home!
These loans never have a pre-payment penalty, ever.
Timely payments on rent, utilities, and insurance for the last 12 months can be all the credit you need to qualify.
The seller can pay all your closing costs and pre-paid escrow deposits, up to 6% of the purchase price.
FHA loans are the only loans that allow for a non-occupying co-borrower, helping you to qualify.
You can even use these programs to purchase up to a 4-family property, allowing you to buy your own home and become an investor at the same time.