FHA Home Loan Services offers reduced rate home purchase loans for 1st time homebuyers and existing homeowners in all fifty states. FHA mortgage rates declined to their lowest levels ever in 2009. Lock into a once of a lifetime rate now.
New homebuyers only need to come up with three percent for the down-payment and the lending costs are very reasonable.
FHA extends flexible underwriting that enable limited credit borrowers a good chance to get qualified for a home purchase.
$7,500 Tax Credit for First Time Home Buyers
New FHA guidelines for homeowners who owe more on their mortgage than their home is worth. Ask you Approved FHA lender about the FHA loan modification.
Down-payment assistance programs are hard to find these days but FHA still allows first time homebuyers to use gift money for deposits and down payments. FHA has been promoting homeownership since 1934 and their home financing programs have performed consistently over the years with a very low default rate for FHA purchase money loans. FHA still provides lenders tangible confidence because these government loans are insured by HUD. Most subprime and traditional lenders have seriously tightened the home purchase guidelines, but FHA maintains its quest to promote as finance new and existing with low interest fixed rate loans that are affordable and flexible because they encourage a streamline refinance if the mortgage rates drop.
Plus, with the passage of new legislation, first time buyers could get a tax credit worth up to $7,500. FHA continues to offers an insurance-free loan that you pay back over 15 years, but it is very helpful when you're short on funds. And, if you act now, you could still get seller-financed down payment assistance through programs like AmeriDream and Neimiah. After October 1st, if you need down payment assistance, you'll need to get it from family, friends, employers, your church or through a city, county or state-backed program.
