It's easy to understand why many people looking for a new home are turning to FHA insured loan programs. Because FHA loans are insured by the Federal Housing Administration, homebuyers have an easier time qualifying for a mortgage. Those who typically benefit most by an FHA mortgage are first-time homebuyers and those who have less than perfect credit.
If you dream of owning a home, you should know that an FHA home loan features numerous advantages. Low down payments, reduced closing costs and lower limits to get approved make an FHA insured loan a quicker route for many people who want to buy a home.
The links to the right are articles aimed at helping you better understand FHA loans in Massachusetts. With this information, you can make a more informed decision on whether these government insured loans are right for you and your family.
In response to the growing housing situation in the United States, the loan limits for FHA loans have been temporarily raised. Depending on where you live, you might find it even easier to qualify for an FHA loan.
As FHA loan specialists, we can help you understand any new changes to the FHA loan program. We're here to create a customized solution that works best for you and your family.
Before applying for a mortgage, you will need to gather information about your income, debts and employment history. Your FHA loan officer can process your application and help you decide which loan may be the best fit for your needs and financial goals.
If you meet the requirements, you will hear from our FHA mortgage broker within a few days. This is your opportunity to look at the mortgage terms and ask questions. To start the process of buying a home, you will need a specific property and sale price in mind.
If this seems a little confusing, you are not alone. At Superior Rate Mortgage of New England, we aim to help homebuyers sort the details. We are licensed in Massachusetts, Rhode Island, New Hampshire and Connecticut. Whether you are a first-time homebuyer or are looking to apply for an FHA streamline refinance, our loan officers have the experience to find the best options for you.
To learn more, call us at 978-309-3109 or contact us via email by clicking here.