When you think of federal housing administration loans it’s normal to feel a bit intimidated. But this is an extremely helpful way for a first time home owner to get the house they want. This can also be a useful program for low-to-moderate income borrowers who are unable to make a large down payment on a house. We wanted to share how we help our clients get the most of a FHA loan.
Generally it’s easier for a first time first-time- homeowner to qualify for than a conventional loan that might be available. As we mentioned earlier the loan has a much lower down payment requirements, this form of loan was established in 1934 to increase home construction market and reduce unemployment as well. This loan can also guarantee that it does not exceed statutory rate limits. Also all credit scores at 550 are accepted, but credit overlays will apply, its always a good idea to consult with a qualified lender beforehand.
We have served the Joplin, MO, and surrounding area for 30 years, offering our services to help those who are looking to start their lives with a beautiful new home. If you would like to know more about our operation then please give us a call at 417-782-7800 We look forward to your call.