FHA mortgage loans are loans offered through the Federal Housing Administration. Although they are referred to as FHA loans, they are regular mortgages that carry FHA mortgage insurance. These loans are beneficial to many people and have been used to put many home buyers into their first homes with less hassle, down payment, and closing costs. FHA currently offers fixed rates and adjustable rate loans. FHA allows buyers to put a minimum of 3 1/2% down. FHA loans offer more flexible qualifying guidelines, and in most cases, less closing costs than that of conventional loans.
If you are looking to purchase a home and have minimal resources, call now to find out if FHA will work for you. FHA mortgage loans are assumed to borrowers that qualify. Talk to a mortgage specialist about qualifications. Since American Fidelity has a Full Eagle status, we are authorized to underwrite for the government insurance. In other words, we do it in-house. This will assure you a more efficient process with better rates.