The
United States government's Federal Housing Administration
(or "FHA") administers a number of single family
mortgage programs designed to support home ownership
for low to moderate-income families.
FHA
mortgages cover not only existing homes, but also
new construction and condominiums.
Additionally, the FHA has programs for energy efficient
improvements and assisting victims who have lost
their homes because of a natural disaster.
Some
of the most common FHA mortgage programs are the
203 (b) which is for existing homes and new construction,
203 (k) which is used to rehabilitate an existing
home and the 234 (c) which covers the financing
of condominiums.
The
benefits of an FHA mortgage over a conventional loan
include:
-
Lower down-payment requirements
- Easier
qualifying requirements
- Lower
interest rates
- Available
in both fixed and adjustable rate mortgages
There
are some restrictions and eligibility requirements
for FHA loans, but an Alpha Mortgage loan specialist
can assist you in the application process.
So
call us at 303-758-3755 or go here to see if you Pre-Qualify
for an FHA mortgage with Alpha Mortgage.
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