With an FHA loan, you can buy a home with as little as 3.5% down for the purchase price. That’s not all, you can seek assistance for your down payment and closing costs. These down payment assistance mechanisms clearly remove any hurdle to homeownership for first-time homebuyers and low- and middle-income households. Interested in getting a loan?» Finding Down Payment Assistance Back in the day, sellers or other parties with interest in the purchase transaction can fund the buyer’s down … [Read more...]
An FHA Mortgage in a Market of Rising Rates
There’s no doubt. Mortgage rates are going to continue its march forward and there’s little to no evidence of it going down. As housing inventory continue to stay in the low, creating an equivalent push of home prices up, it’s becoming harder and harder to find a home, and the mortgage for the needed financing. The question then hangs: what are the best mortgage options available in this climate of rising rates? We say you take a look at FHA loans. If you are a first time home buyer, … [Read more...]