What Types Of Loans Are Available Through FHA

Dated: 06/23/2014

Views: 3017

FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) - which is part of HUD - insures the loan, so your lender can offer you a better deal.
  • Low down payments
  • Low closing costs
  • Easy credit qualifying
What does FHA have for you?

Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

Want a fixer-upper? 
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.
Financial help for seniors 
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.
Want to make your home more energy efficient? 
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
How about manufactured housing and mobile homes? 
Yes, FHA has financing for mobile homes and factory-built housing. They have two loan products - one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.

For more information Call or Text me at 732-887-4689.
Search for homes at rpileggi.vandykrealestate.com.  For personalized service Text or Call me at 732-887-4689.
Info courtesy of www.hud.gov
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Robert Pileggi

I grew up in Union County and moved to Long Beach Island in 2003. I loved living here so much that I got my real estate license in 2004 and have since helped many other people enjoy living and vacati....

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