Raleigh FHA, Wake Forest FHA, FHA Refinance and FHA Purchase Information

What Is An FHA Loan?

Commonly known as a "government loan", an FHA loan is guaranteed by the Federal Housing Administration. The Federal Housing Administration, or FHA, provides mortgage insurance on loans made by FHA mortgage lenders throughout the United States.

FHA is the largest insurer of mortgages in the world, insuring over 34 million properties since it's inception in 1934.

FHA Mortgage Highlights:

    *Easier qualification than conventional loans
    *Higher debt ratios, lower credit score requirements
    *Lower Mortgage Insurance (MI) than conventional loans
    *30 year fixed or 15 year fixed
    *Adjustable Mortgage Rate (ARMS)
    *Less than perfect credit accepted
    *Low down payment of 3.5%
    *Down payment can be a gift
    *Competitive interest rates
    *Seller can pay up to 6% in closing costs
    *No income limits
    *County loan limits apply

FHA $100 Down Mortgage

   Borrowers can qualify for a down payment as low as $100. To be eligible for this
    program you must:

        *Qualify for an FHA loan
        *Locate a HUD owned home to purchase
        *Intend to use the home as your primary residence
        *Offer at least full price for the property

1121 Situs Court, Suite 100 , Raleigh, NC 27606
|E-Fax: 866-847-4024| NMLS # 105054