Benefits of an FHA Loan



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.

In addition to the favorable financial terms, FHA insured loans offer the following benefits:
 
  • Equal opportunity for all qualified borrowers
  • Required down payments as low as 3.5% of the purchase price
  • Ability to finance up front Mortgage Insurance Premium
  • Default assistance and foreclosure prevention
  • Right to prepay without penalty
  • Credit Improvement in the qualifying process for some borrowers
  • Availability in all areas of the country
  • Ability to finance the cost of repairing and / or improving a property in need of rehabilitation
  Call me today to learn more about homeownership and what options you may have through the FHA program.
Location: 1390 Noriega St, San Francisco, CA 94122, USA

Comments

Post a Comment

Popular posts from this blog

Pandemic-Friendly Tips for Selling Your House

Pandemic-Friendly Tips for Selling Your House At first glance, it might appear that a home sale is impossible during a worldwide pandemic. However, nothing could be further from the truth. Check out these resources to help you navigate a successful home sale, regardless of what COVID-19 sends your way. Technology Is Your Friend In one sense, the pandemic couldn’t have come along at a better point in history. Since our age has the advantages of technology, we can do things to accommodate home sellers that no generation before could consider. ●         Go online   to explore the real estate market in your area. ●       Consider adding   drones   to your arsenal of home-selling tech, since it’s a great way to present your property from unique perspectives. ●       Hubspot suggests you ease staging woes with well-chosen   apps for virtual staging . ●       Prepare your home for   presenting it virtually   to buyers via photography and virtual tours. Safe Showing
Read more about this entry »»»»

FINANCIAL RELIEF TO EMPLOYER, EMPLOYEE AND INDEPENDENT CONTRACTOR

Image
FINANCIAL RELIEF TO EMPLOYER, EMPLOYEE AND INDEPENDENT CONTRACTOR The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed on March 27 to provide financial relief to small business owners, independent contractors and other unemployed Americans.  The Act was unprecedented in size and was passed quickly through Congress to speed relief to those harmed by the COVID-19 crisis. There are many ambiguous provisions in the law that will be clarified by rule-making at the federal and state agencies. April 6 Updates The SBA has announced that lenders may begin processing loan applications as soon as April 3, 2020 for small businesses, and April 10, 2020 for independent contractors and the self-employed. If you need assistance finding a PPP lender, SBA has created a “ Lender Match ” tool that allows you to search for lenders based on your Zip Code. As of April 6, Wells Fargo has stopped taking PPP loan applications. Please use the “Lender Match” tool to find anothe
Read more about this entry »»»»

Think This Is a Housing Crisis?

Image
  Think This Is a Housing Crisis?   Think Again. With all the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it’s logical to ask that question. Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis that has caused a pause in much of the economy and a major shutdown of many parts of the country. Let’s look at five things we know about today’s housing market that were different in 2008. 1. Appreciation When we look at appreciation in the visual below, there’s a big difference between the 6 years prior to the housing crash and the most recent 6-year period of time. Leading up to the crash, we had much higher appreciation in this country than we see today. In
Read more about this entry »»»»