FHA 1st Time Homebuyer Loans

Finance a New Home with a 3% Down-Payment

Helpful Resources for First Time Home Buyers
HUD Answers 1 st Time Home Buying Questions
Down-Payment Assistance for Texas Home Buyers
FHA Home Loan Services

FHA offers 1st time homebuyer loans to consumers with limited or poor credit while providing competitive interest rates and fixed rate terms. As you may have read in the news, FHA mortgage loans have become the most common loan with new homebuyers. FHA requires income documentation and home buyers need to come up with 3% of the purchase price. FHA does allow gift funds, so there is no seasoning for the down-payment.

Limited and Bad Credit Borrowers Have New Opportunity with FHA

There are many reasons why FHA home mortgages are being recommended by realtors, broker, loan officers and accountants. They are popular with first-time home buyers because they are offering more benefits than traditional and subprime loans. They require less money down and the rates are competitive with prime loans backed by Fannie Mae or Freddie Mac. Don't forget that FHA offers a streamline loan that allows existing FHA customers to refinance into a better mortgage if market conditions improve and interest rates drop. This streamline option all but guarantees first time home buyers that FHA is the best financing tool available tool.