If you've never bought a house before and are thinking about it now, KC Loan Tips FHA Home Loan Independence could be the right option for you. Interest rates are still low and many of the benefits of the FHA Home Loan program are especially helpful to first time home buyers! If you're even considering a purchasing a home or moving here are some of the best attributes of the FHA Home Loan Independence and get pre-approved for this great program right now!
Here are some of the benefits:
1. Down payment is only 3.5% of the purchase price
2. The down payment can also be gifted by a family member such as Parents, Grandparents, or a Sibling.
3. The credit scores are more relaxed….in some cases as low as 580. Generally speaking 620 or 640 is the norm.
4. If you’ve had a BK or Foreclosure in the past you don’t have to wait the typical 5-7 years for a conventional loan. With FHA you only have to wait 3 years after a foreclosure.
5. The loan limit for FHA here in the Midwest is $271,000
Get in touch with us soon to talk about your FHA Home Loan Independence! Connect socially below or use the phone.
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