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FHA Loans

• FHA Loans

The FHA loan program was created to help Americans buy homes.  You're grandfather and maybe great grandfather may have used an FHA loan. The  FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs. Some highlights of the FHA loan program are:

• Minimal Down Payment and Closing Costs.

• Downpayment less than 3.5% of Sales Price
• 100% Financing options available*
• Gift for downpayment and closing costs allowed.
• No reserves or required.
• FHA regulated closing costs.
• Seller can credit up to 6% of sales price towards buyers costs.

• Easier Credit Qualifying Guidelines such as:

• Minimum FICO credit score of 640.
• FHA will allow a home purchase two years after a Bankruptcy.
• FHA will allow a home purchase  three years after a Foreclosure. 

• Easier Debt Ratio & Job Requirement Guidelines

These advantages of the FHA loan program has made it one of the best options for most first time home buyers as well as move-up home buyers.

You do not have to be a first time buyer to obtain a FHA loan, anyone may use a FHA loan as long as you do not have more than one FHA insured loan at any one time.

Following is a list of some the various type of FHA loan programs available. Next to the name of the program is a brief description of the FHA mortgage program. Once you find a program that best suites your needs, please click on it for a detailed program description

• Single Family Home - Basic FHA loan program for single family homes.

• Units> Duplex  Triplex  Fourplex - Basic FHA loan program for multi family homes.

• Fixed Rate Loan - Basic FHA fixed rate mortgage loan program.

• Adjustable Loan (ARM) - Basic FHA adjustable rate mortgage loan program.

• Buydown FHA Loans   - Low Start Rate FHA buy-down loan program.

• HUD Homes - Financing for HUD homes with as little as $100 down.

• Officer Next Door - Special 50% discounted homes for officers.

• Teacher Next Door - Special 50% discounted homes for teachers.

• CHDAP - 100% financing option for first time buyers in California.

• Nehemiah - 100% financing option provided by Non-profit organization.

• HART - 100% financing option provided by Non-profit organization.

• CHFA Loans (CHAFA) - 100% financing option for first time buyers in California.

• Access 2000 - 102% financing option for first time buyers.

• 203K - Home improvement & major remodel loan program.

You may find more information regarding the home buying process, shopping for a home, and  additional information regarding buying a home at www.buying-a-home-info.com or if you may search real estate listings of homes for sale.

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