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FHA Loans and for some people Better Than FHA Loans
Mortgage Home loan companies offers many loan programs that allow you to purchase a home with little or no down payment. You can chose from our 3% down conventional, FHA in many areas, zero down 100% financing and 103% financing where you can use the extra 3% or 5% toward paying closing costs. [What is the difference between conventional and government mortgages?]
Some of these loans are much more flexible than FHA. Some of the benefits are:
- NO Income Limits
- NO Home Value Limits, loans up to $300,000
- NO MIP paid at closing
- NO Special appraisals
You may chose between fixed rates or a variety of ARMs loans. You may purchase single family homes that are approved condos, PUDs or manufactured homes. Money for the 3% down payment program can come from alternative sources such as:
- Gifts from relatives or disinterested third party,
- Government agencies or grants from non-profit organizations
- Unsecured personal loans (including credit cards)
Loans with the best pricing and lowest points require A+credit; however, we have 100% financing loans where your credit score can be as less than perfect.
There is no reason to endure the FHA red tape with so many preferred options.
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