The FHA (Federal Housing Authority) doesn't actually fund your home loan in any way. The FHA simply provides mortgage insurance to help consumers become Home Owners. The FHA actually insures the lender from losses resulting from Home Owner default. The FHA helps mortgage lenders prepare loans for people who might not otherwise qualify.
One of the big advantages of an FHA Loan is that a smaller down payment is possible. As of January 1, 2009, the down payment for a FHA Loan is 3 ½ percent of the principle loan amount. In today's market the down payment on conventional loans can be as much as 20 percent. FHA loans make it possible for many people to enter the Home Buyer market, just with the lower down payment alone. There are many other good incentives for getting a FHA loan:
•· Lower Credit scores are allowed with an FHA insured loan.
•· Higher Debt-to-Income ratio is allowed
•· No maximum income levels
When working with a Mortgage Loan Officer, always ask them to consider an FHA Loan, you might be able to see substantial savings if you do so.
Utah County Homes AMP Mortgage Xpress Orem Real Estate Provo Orem Homes Provo Real Estate Utah Realtor Utah Homes Utah Homes For Sale Provo Real Estate WS Orem Real Estate WS Utah Homes 4 Sale Alpine Real Estate American Fork Real Estate Cedar Hills Real Estate Highland Real Estate Lehi Real Estate Pleasant Grove Real Estate Utah County Home Values Utah County Realtor Utah County Realtors Provo Realtor Provo Utah Real Estate Eagle Mountain Real Estate Mapleton Real Estate Payson Real Estate Saratoga Springs Real Estate Spanish Fork Real Estate Springville Real Estate Utah Best Rate Utah Home Loans Franklin D. Hulme, DDS Utah County Title Companies Utah County Mortgage Companies Utah County Home Warranty Companies Utah County Home Inspection Companies Utah County Appraisal Companies Orem Real Estate, Provo Real Estate, American Fork Real Estate, Lehi Real Estate, Lindon Real Estate, Pleasant Grove Real Estate, Highland Real Estate, Alpine Real Estate, Eagle Mountain Real Estate, Saratoga Springs Real Estate Springville Real Estate, Mapleton Real Estate, Spanish Fork Real Estate, Cedar Hills Real Estate , Utah County Real Estate, Utah Homes For Sale Alpine Utah Homes, Utah County Real Estate, Utah County Real Estate MLS, Utah County Homes MLS, Prudential Utah Real Estate, Utah Homes For Sale MLS, Loans MLS Search, Apply online, Utah County Real Estate Neighborhoods, Utah County Real Estate - Search Utah MLS Listings, Utah County Homes MLS, Utah Home For Sale MLS, Utah County Real Estate For Sale By Owner, Utah County Homes 4 Sale, Utah County Real Estate 4 Sale, Utah County Short Sales, Utah County Bank Owned, Utah County Short Sales UCRE, Utah County Bank Owned UCRE