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Top 10 reasons FHA is a great way to finance your home....
FHA mortgages, why are they still not talked about as much as they should be?
Many mortgage companies are not FHA approved.Many loan officers do not truly understand the difference between FHA mortgages and Conventional mortgages. Overall, what a great time to purchase a home or to refinance your mortgage. Mortgage rates right now are the lowest that they have been in over 2 years.
So, with that said, let's check out why many times, FHA financing is better than conventional financing.....
Top 10 Reasons why FHA mortgages are better than Conventional mortgages
10. Your monthly MMI vs PMI (monthly mortgage insurance) is lower monthly with 10% or less down.
9. You can get 100% gifted to you from a family member for down payment and closing costs.
8. You can be in a Ch. 13 bankruptcy after 1 year and buy a home or refinance.
7. You can have a non-occupant co-borrower help you qualify to purchase your home.
6. You can get up to 6% seller help for closing costs.
5. FHA mortgages for damage credit with credit scores as low as 500 and still put just 2.25% down.
4. With credit scores under 680, your ... more
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