FHA Loan Strategies to Build Your Business

Ann Swartz, Prospect Mortgage
Federal Housing Administration (FHA) loans provide unique options and benefits to homebuyers. Here are some situations where an FHA loan can help your client purchase a single-family primary residence.

Your client wants to put less down.
FHA loans are available with a minimum 3.5% down payment.

Your client has less-than-perfect credit.
FHA loans provide greater credit flexibility with credit scores as low as 580.*

Your client does not have a lot in savings.
FHA loans may not require reserves or documented funds from the buyer after the close.**

Your client wishes to seek seller concessions.
The FHA lets sellers, or other interested third parties, pay a maximum of 6% of the sale price toward any closing costs.

This entry was posted in Credit Score, Financing, Home Buying, Home Selling, Homeownership, Market Conditions, Mortgage and tagged , , , , , , , , , . Bookmark the permalink.

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