FHA Home Loan
An FHA mortgage is a popular option with first-time homebuyers. This product was created by the Federal Housing Administration with lower down payment options and flexible underwriting criteria. If you believe that homeownership is out of reach, consider an FHA loan.
What is an FHA loan?
FHA loans are backed by the US government, allowing lenders to loosen qualifying criteria. Lower down payment options and less credit requirements make homeownership attainable to more buyers. If you haven’t owned a home in 3 years, you will be considered a first-time homebuyer.
Our team provides a consultative approach to finding solutions to meet your financing goals.
As with all loans, a review of your credit score, debt and assets will be required to meet these conventional guidelines. * Premia Relocation Mortgage is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the Federal government.
Benefits of an FHA loan:
Low down payment requirements
Fee and loan limits apply
Financial gifts for closing or down payment assistance are acceptable
Lower credit score requirements
Closing costs may be rolled into the loan