fha: Understanding FHA loans
- 06/24/13 07:20 AM
This week we are going to dive into the world of FHA and how this popular loan is getting more buyers into homes. In fact, 46% of first time home buyers in 2012 used the FHA program to buy their new home. FHA was first enacted in 1934 under the US Housing Act and has assisted millions of Americans in reaching their goal of home ownership. Why use FHA? Some of the advantages include: a lower down payment (3.5%), lower closing costs, seller concessions of up to 6% of the purchase price to pay towards closing costs and pre-paids, down payment … (0 comments)
This week we are going to dive into the world of FHA and how this popular loan is getting more buyers into homes. In fact, 46% of first time home buyers in 2012 used the FHA program to buy their new home. FHA was first enacted in 1934 under the US Housing Act and has assisted millions of Americans in reaching their goal of home ownership.
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