FHA Financing and DFW Real Estate
Are you in the process of, or are you considering, buying a DFW home? If so, you may want to give serious consideration to using FHA financing to purchase the home. There are many excellent reasons to obtain an mortgage instead of using a conventional or sub-prime mortgage. Why not take advantage of the many benefits and protections that only a FHA mortgages offer: Easier Qualifying Criteria - Because FHA insures your mortgage in case of a default, lenders are willing to issue mortgages with easier qualifying requirements making it easier for you to qualify for the FHA mortgage. Lower Credit Scores- If you have had credit problems, such as late payments, charge offs or bankruptcy and you have a low credit score its easier for you to qualify for an FHA mortgage than a conventional mortgage because FHA insured mortgages require lower credit scores to qualify. Lower Down Payment – FHA currently only requires a low 3% down payment. The down payment money can come from a family member, employer or charitable organization. Conventional and sub-prime mortgages don't allow this and they also require more money down. Less Expensive - Many times, FHA mortgages come with competitively low interest rates because these mortgages are insured by the Federal Government. This is another reason FHA mortgages are so popular. Help You Keep Your Home – FHA has been in existence since 1934 and it will be around to protect you when the other Lenders won’t. Should you run into hard financial times after you buy your FHA financed home, FHA has several options to help keep you in your home and avoid an . With all that said, there is more to buying a home than a low down payment and a low monthly house payment. Go straight for an FHA mortgage when you purchase of that will make it easier for you to buy your home and keep it for the long run? A FHA mortgage is a wise choice.
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