FHA Home Loans Blue Springs
Let's talk about FHA loans because I know you want to learn more about them. You probably already know that FHA home loans are extremely popular because they have a ton of advantages for the home buyer! If you're interested in getting the process (to get pre-approved) started - simply click this link: Getting Started 
The FHA home loan is a loan program that really helps buyers with some great benefits when you are approved for the loan. The first benefit is that it has less stringent guidelines on the application & approval process and the down payment fees are lower than a conventional loan. This program is backed up by the Federal Housing Authority, so if you have had credit difficulties or simply don't have the money to make a 20% down payment can purchase a home, the FHA helps you out with these lower qualifying standards.
Some of the guidelines to qualifying for an FHA home loan include:
- You must have at least Two years of steady employment and during that 2 years your Income must remain the same or hopefully has improved.
- Your monthly payments for your FHA mortgage can't exceed 30% of your gross income.
- As with many loans out there today the credit guidelines vary based on multiple factors.
- You must be able to make a 3.5% down payment (or more if you can afford it); and if you need help with this down payment, the FHA loan allows a family member to help you out with that.
Some of the other benefits to FHA loans are that if you've gone through a bankruptcy, had a short sale or had a house foreclosured upon in your credit history you may still qualify for the FHA Home Loan Blue Springs. The guidelines for this mortgage loan are much more flexible than the normal conventional loan especially in the case of people who do not have ideal employment or income history. There are grant available to help you make those pesky down payments and the FHA program can help out many people who have unique situations. Don't forget that a generous family member can help you make that 3.5% down payment! Call us today (816)268-4025 to get pre-approved or check us out on Facebook and twitter!
FHA Home Loans Blue Springs
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