FHA Loans - Buying a Home using a FHA Loan
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The FHA loan program was created to help increase homeownership. The  FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs. Some highlights of the FHA loan program are:

• Minimal Down Payment and Closing Costs.

• Downpayment less than 3% of Sales Price

• 100% Financing options available*

• Gift for downpayment and closing costs allowed.

• No reserves or required.

• FHA regulated closing costs.

• Seller can credit up to 6% of sales price towards buyers costs.

• Easier Credit Qualifying Guidelines such as:

• No minimum FICO score or credit score requirments.

• FHA will allow a home purchase two years after a Bankruptcy.

• FHA will allow a home purchase  three years after a Foreclosure. 

• Easier Debt Ratio & Job Requirement Guidelines such as:

• Higher Debt Ratio's than other home loan programs.

• Less than two years on the job is allowed.

• Self-Employed individuals o.k.

These advantages of the FHA loan program has made it one of the best options for most first time home buyers as well as move-up home buyers.

You do not have to be a first time buyer to obtain a FHA loan, anyone may use a FHA loan as long as you do not have more than one FHA insured loan at any one time.

Following is a list of some the various type of FHA loan programs available. Next to the name of the program is a brief description of the FHA mortgage program.

FHA Loans - Buying a Home using a FHA Loan
...............................................................................

The FHA loan program was created to help increase homeownership. The  FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs. Some highlights of the FHA loan program are:

• Minimal Down Payment and Closing Costs.

• Downpayment less than 3% of Sales Price

• 100% Financing options available*

• Gift for downpayment and closing costs allowed.

• No reserves or required.

• FHA regulated closing costs.

• Seller can credit up to 6% of sales price towards buyers costs.

• Easier Credit Qualifying Guidelines such as:

• No minimum FICO score or credit score requirments.

• FHA will allow a home purchase two years after a Bankruptcy.

• FHA will allow a home purchase  three years after a Foreclosure. 

• Easier Debt Ratio & Job Requirement Guidelines such as:

• Higher Debt Ratio's than other home loan programs.

• Less than two years on the job is allowed.

• Self-Employed individuals o.k.

These advantages of the FHA loan program has made it one of the best options for most first time home buyers as well as move-up home buyers.

You do not have to be a first time buyer to obtain a FHA loan, anyone may use a FHA loan as long as you do not have more than one FHA insured loan at any one time.

Following is a list of some the various type of FHA loan programs available. Next to the name of the program is a brief description of the FHA mortgage program. Once you find a program that best suites your needs, please click on it for a detailed program description.

First time home buyer programs can offer a break for many individuals who need help coming up with down payment money or simply home home buyers with good credit deserving of a lower interest rate. Many of our lenders offer these programs and are happy to see if you qualify...