Ms. San Francisco Real Estate (Janice Lee)

August is typically the month that gardeners get to enjoy all the hard work of the summer. Vegetable gardens are peaking and producing lots of goodies to eat. Your flower beds are in full swing, and you can decorate your home as they produce their last blooms.

If you're in the market for a new house, you're probably in the market for a new mortgage. When considering your financing options, you'll want to review many different things about the loans offered to you. There are many different kinds of home loans available and understanding what you are offered by a lender is critical to knowing whether or not that financing option will work for you.

Federal Housing Administration (FHA) insured loans are made by private lending intuitions such as banks, savings & loans, or mortgage companies to eligible borrowers for the purchase of a home. FHA insured loans offer a number of benefits for both lender and borrowers. Since 1934, the program has insured over 35 million home mortgages.

If saving enough for a 20% down payment will delay your home buying dream for years, you should consider your alternate options: An FHA Loan The Federal Housing Administration, or FHA, insures loans for qualified first-time homebuyers. With FHA backing, lenders can offer you a loan at a low interest rate with as little as 3.5% down.