According to the latest Federal Housing Administration statistics, FHA loans have helped millions of Americans become homeowners. Have you ever asked, “Is an FHA mortgage right for me? There’s got to be a reason all those people use this program!” There are actually several reasons to choose an FHA loan depending on what situation you’re in. FHA mortgages are both available and powerful. They’re backed by the government and can be extremely flexible for you as a borrower. In fact, individual borrowers are the backbone of the FHA program.
According to the Department of Housing and Urban Development, FHA loans have helped more than 40 million Americans become homeowners since 1934. The FHA is dedicated to making home ownership a reality for everyone. From first-time homebuyers to those with less-than-perfect credit, these loans are have many uses and may benefits. Whether you’re looking to buy your first home or you’re an experienced home buyer and FHA mortgage may be exactly what you’re looking for. Keep in mind, it’s not just the big banks and national lenders that offer FHA loans, regional and local lenders offer it as well. The Moreira Team is an ideal partner to help you sort through the best FHA mortgage options for your family.
This guide will go over what an FHA mortgage is, the requirements and benefits. We will also touch on the different types of FHA loans that are available. And lastly things to keep in mind before making a decision on an FHA loan.