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Do you know the advantages of FHA home loans?

March 25th, 2020

Michigan FHA Loan Site Center

A Michigan FHA loan is just a true mortgage loan that is insured by the Federal Housing management. House buyers can afford to buy a true house or apartment with a decreased advance payment as little as 3.5percent associated with cost.

  • Minimal Deposit Needs
  • Deposit could be Gifted
  • Non-Occupying Co-Borrowers Allowed
  • Lower Credit History Needs
  • Seller Paid Closing expenses (up to 6% of cost)

Fha Mortgage Application

The federal government insures the lending company against losings so banking institutions have the ability to provide you with the low FHA mortgage prices. This versatile mortgage loan option is ideal for very first time house purchasers which have no founded credit or little money for down re payments.

To learn more about FHA home mortgages give us a call at 800-555-2098 or use today that is online!

Perhaps one of the most mortgage that is flexible currently available are FHA Mortgages. As sub prime loans faded away, the us government filled in by loosening the financing instructions for FHA home loans. To be eligible for a FHA home loan you’ll need a 3.5% advance payment on a purchase and a credit score that is 580. Our loan officers at Riverbank are skilled in home loan financing services and gives the cheapest FHA home loan prices available.

Michigan FHA Loan Needs and Eligibility

A FHA loan will make real estate easier when compared to a mortgage that is conventional. » Read more: Do you know the advantages of FHA home loans?