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FHA Low Down Payment Loan in Alexandria, Louisiana
FHA Low Down Payment Loan in Alexandria, Louisiana
As the title above indicates The FHA (Federal Housing Administration) financing program offers one of the lowest down payment options available to consumers today. In our local real estate market approximately 50% of all home buyer's secure a FHA Low Down Payment Loan in Alexandria, Louisiana. This type of mortgage loan can be used for a home purchase in either an urban or rural area.
 
There are many first time local buyers that find a FHA Low Down Payment Loan in Alexandria, Louisiana can be their best choice when shopping for a home mortgage. Below are some of the top reasons a purchaser will choose a FHA mortgage.

The minimum credit score allowable is a 640. Lenders will pull a Tri-Merge credit report and use the middle score from the three credit bureaus to determine your credit score. The down payment requirement is only 3.5% which is much lower than a conventional mortgage loan. FHA home buyers must pay the 3.5% from their own proceeds (checking or savings account). Sellers can pay closing costs for the buyer. The Realtor representing you can negotiate with the seller to pay FHA closing costs ... more

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