Accessible Homeownership Begins Here 💸
FHA Loans – Low Down Payment Options for First-Time Buyers 🏡
Ready to own a home but worried about down payments? FHA Loans offer low requirements and flexible qualifications. Find out if an FHA Loan is right for you!
Explore FHA Loan Benefits Today! 📑
FHA Loans offer lower down payment options and more flexible qualifications, making them ideal for first-time buyers or those with less-than-perfect credit. With only a 3.5% down payment requirement, these loans open doors to homeownership for many. Rob Slayton at Geneva Financial can guide you through the FHA Loan process, ensuring you understand eligibility criteria, interest rates, and repayment terms.
Need help understanding your options? Fill out the form, and we’ll guide you through the benefits and qualifications!
Your Path to Affordable Homeownership 🏠
FHA Loans – Make Homeownership More Accessible
FHA Loans provide an affordable entry to homeownership with low down payment options and flexible qualifications. Learn how an FHA Loan can work for you.
What credit score is required for an FHA Loan?
Generally, a credit score of 580 or higher is needed for a 3.5% down payment. Borrowers with scores between 500 and 579 may qualify with a 10% down payment.
What down payment is required?
FHA Loans require a minimum down payment of 3.5%. This lower requirement makes homeownership attainable for many buyers.
Are FHA Loans available to first-time homebuyers only?
No, FHA Loans are available to all eligible borrowers, including repeat homebuyers. They are particularly popular among first-time buyers due to their low down payment requirements.
Is mortgage insurance required with FHA Loans?
Yes, borrowers must pay an upfront mortgage insurance premium (UFMIP) and an annual premium (MIP), which can be rolled into the loan. This insurance protects lenders in case of default.
Can I refinance my existing loan with an FHA Loan?
Yes, FHA offers several refinancing options, including the Streamline Refinance, which allows for reduced documentation and no appraisal in some cases.
Can I refinance my existing loan with an FHA Loan?
Yes, FHA offers several refinancing options, including the Streamline Refinance, which allows for reduced documentation and no appraisal in some cases.
