Wednesday, 28 August 2013

Benefits of FHA Loans: Get Minimum Mortgage Rates

FHA loans, aka Federal Housing Administration, does not lend money directly to home buyers to buy a home, which makes it extremely difficult for them to get required finances. Thankfully, various approved lenders can issue loans at minimum mortgage rates in Connecticut. Here are a few benefits that can help you understand the benefits of FHA loans from a private company. 

1. The down payment of these loans is low as compared to other loans, which makes it easy for the homeowners to attain better homeownership

2.  Some lenders provide these loans on minimum or no credit score, which makes it easy for people to get loans when the banks have disapproved their loan applications. 

3. FHA offers the FHA 203(K) mortgage insurance program for homes that need maintenance and repair. Both the rehabilitation and home expenses are involved in the loan given. 

4.  Home buyers may use non-occupying co-borrowers to qualify for FHA loans. 

5. FHA mortgages permits the homebuyer to buy a home from an existing FHA mortgage lender. 

6. FHA programs are available for co-operatives, manufactured housing and condominiums.

7. These loans are easily available as adjustable and fixed rate mortgages. 

8. The FHA streamline refinance program permits existing FHA mortgage holders to get a better mortgage loan without any requirement of documentation, appraisal and credit history. 

In short, FHA loans are a great way to get low mortgage on your home purchase. If you require a loan for your home in Connecticut, the best way is to consult a reputed provider online. Numerous private lenders present may help you get minimum mortgage rates. Considering the number of lenders present, it is highly advisable to check the credibility before making the final decision. The best way to check the authenticity is to read user-reviews online or read customer testimonials. 

License : CT License #1377 | MA License #ML2643 | FL License #ML100000121 


Post a Comment

Thanks for your reply.