FHA Home Loan Services offers the low rate home purchase loans in Cincinnati with only a 3% down-payment and credit requirements are flexible.
Cincinnati is in the county seat of Hamilton County. It is located in southwestern Ohio on the Ohio River at the Ohio-Kentucky border. Cincinnati is Ohio's third largest city, behind Columbus and Cleveland, and the 56th largest city in the United States. Cincinnati is home to the newly expanded and renovated Duke Energy Convention Center, which offers nearly 200,000 square feet of premium meeting space and boasts one of the largest and most impressive ballrooms in the Midwest at 40,000 square feet.
Cincinnati is in the county seat of Hamilton County. It is located in southwestern Ohio on the Ohio River at the Ohio-Kentucky border. Cincinnati is Ohio's third largest city, behind Columbus and Cleveland, and the 56th largest city in the United States. Cincinnati is home to the newly expanded and renovated Duke Energy Convention Center, which offers nearly 200,000 square feet of premium meeting space and boasts one of the largest and most impressive ballrooms in the Midwest at 40,000 square feet.
As a result of the subprime meltdown and foreclosure crisis, loans you could get a year ago like 80/20 and 100%, interest only are a thing of the past. Lenders are tightening their standards to where those with lower credit scores no longer qualify for a home loan. As a result, FHA home buying is making a comeback.
Cincinnati home financing through FHA makes financial sense. Even if you have had credit problems in the past, you can still get low, fixed interest rates with FHA on Cincinnati home purchase loans on 97 percent loan to value--you only need a 3% down payment. FHA has temporarily raised the loan limit to $337,500 for single-family homes. But, it’s expiring on December 31, 2008. Plus, the down payment requirement is being raised to 3.5% on October 1, 2008. So, you need to act fast on your Columbus FHA home purchase.
How about a Cincinnati FHA condominium loan?
HUD Section 234(c) of the National Housing Act provides authority to insure any mortgage covering a one-family unit in a project coupled with an undivided interest in the common areas and facilities, which serve the project. The project may include dwelling units in detached, semidetached, row, garden-type, low- or high-rise structures, typically referred to as condominiums.
