FHA Home Loan Solutions
Federal Housing Administration (FHA) Loans are offered as both fixed rates and adjustable rates. Despite what many people think, the Federal Housing Administration (FHA) does not actually issue mortgage loans. It provides mortgage insurance, which protects lenders like ProVisor.
This makes it so that the qualifications for an FHA loan are more liberal, making it easier to secure a mortgage and move into home ownership. That's good news for you!
Some of the main benefits of FHA loans include:
- Lower total cash needed to close
- Higher loan amounts with lower down payments
- Purchase and rehab financing (ideal if you need to do some quick remodeling or renovations you might not have cash on hand for)
FHA FIXED-RATE LOANS:
Low credit score, but still want to qualify for a home loan? Low on cash for a down payment? Have less than 20% equity in your home?
FHA Fixed-Rate loans tend to be one of the easiest loans to qualify for, if you’ve had trouble with your credit score or have had difficulty with finances in the past. FHA loans allow our ProVisor team to take more risk with providing loans, allowing you an opportunity to get approved when you otherwise may not with other types of loans.
FHA ADJUSTABLE-RATE LOANS:
Struggled with your credit in the past and want to take advantage of a low interest rate? Plan on refinancing? Planning to move in the next five years?
FHA adjustable-rate loans are government insured, lowering the ProVisor risk. This means that if you have a low credit score or have had financial difficulty, you may qualify for a low interest rate. This is perfect for those who are looking to keep a little more in their pocket as they build their credit or pay off other debt, while still taking the opportunity to invest in a home rather than paying rent each month. If you want to take advantage of today's low rates, contact ProVisor to apply for an FHA adjustable-rate loan!
We enjoy seeing our customers happy by giving them the opportunity to start a new chapter in life (and even making their current one a bit simpler), reflecting what matters most to our ProVisor team, representing our values. Take the first step in brightening your living situation by contacting us today!