I can't be more happy to be able to offer FHA mortgages in our current economy. Right now it's the solution for quite a few buyers. I have a few FHA loans in process right now that would have been conforming conventional mortgages a year ago. Why? Because of the low down payments and the low interest rates on an FHA mortgage and the fact that lenders have tightened up and eliminated the 100% financing programs.
The other big factor causing more buyers to go FHA is that conventional rates are based on credit score and loan to value of the mortgage. Right now, the FHA loan just makes sense.
My advice to anyone considering purchasing a home right now, is to work with a lender that also offers FHA financing. I have 11 years experience with FHA and taught FHA financing in Real Estate Continuing Education Classes.
Note: If you are a loan officer with a lender that does not offer FHA mortgages...give us a call at Grande Financial. We would love to talk to you about joining our team!
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