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FHA loans are a great way to become a homeowner when other options seem closed. If you have struggled to save up enough money for a down payment, have been denied by private mortgage lenders for other reasons, or didn’t qualify for a VA loan, an FHA loan could be just the ticket to get you into the home of your dreams.
The key difference between FHA mortgage loans and conventional loans is that FHA loans are insured, or guaranteed, by the federal government. This makes FHA home loan buyers very attractive to private mortgage lenders because the government is backing the loan.
While the buyer is still responsible for the mortgage loan, the guarantee lowers the risk the lender takes in providing the loan, should the buyer default on the loan.
There are several types of FHA loans available. Loans exist for first time homebuyers as well as those who are refinancing. There is the FHA Energy Efficient Mortgage or FHA EEM and the FHA Section 203(k) that allows for approved remodel/update costs to be rolled into the mortgage. There are even FHA loans for buyers over the age of 62, and those who are purchasing a mobile or manufactured home.
No matter what your situation, chances are there is an FHA loan that can meet your needs. At FortressVALoans.com, we specialize in FHA loans and are experts in the various types, their benefits, and who qualifies. We take a personalized approach to each and every loan we manage, and never rest until we get the best loan for your unique situation. Get started today!
There are many benefits to FHA purchase loans. These loans are generally easy to secure for both ideal candidates and less-than-perfect candidates alike. This is because FHA loans are open to anyone and do not have income requirements. Even first time homebuyers with very little to put towards a down payment can get an FHA mortgage loan for their home purchase. This is in stark contrast to most first time homebuyer programs that do require a set down payment, as well as a certain income level in order to qualify.
Other benefits to purchasing your home with an FHA loan are:
With a decent credit score and responsible debt-to-income ratio, we can help almost anyone get an FHA mortgage. If you are a Veteran who didn’t qualify for a VA loan, or if you have struggled to obtain a conventional loan, an FHA loan is an excellent alternative. Apply today with our simple online form or contact us at (888) 383-5002 or email@example.com and let FortressVALoans.com get you into the home of your dreams!