Having poor credit shouldn’t disqualify you from owning a home. The Federal Housing Administration offers home loans with low credit requirements and low down payments to aspiring homeowners. Contact Icon Mortgage today to find out if you qualify for this type of home loan.
3 things to know about FHA loans
Loans and mortgages can be confusing. Here are a few things to know before you get started on an FHA loan application:
- These home loans are insured through the government. They will ensure that you get the lowest interest rates and mortgage insurance rates possible.
- With an FHA loan, you can purchase a home with a down payment as low as 3.5%. Other housing loans require much higher down payments.
- It’s relatively easy to qualify for an FHA loan. These loans have low credit requirements.
You can also refinance your FHA loan whenever you want, and the FHA allows you to finance certain home repairs through your loan. Call 810-953-4266 right now to learn more about your FHA loan options in Flint, Michigan or the surrounding area.