There are many reasons why you should consider an FHA loan, especially if one or more of the following apply:
- You're concerned about qualifying for a loan
- You're a first-time homebuyer
- You don't have a lot of money for a down payment
- You want to keep your monthly payments as low as possible
- You don't have perfect credit
- You have an Adjustable Rate Mortgage that already has or will adjust shortly
- You're concerned about your monthly payments going up
- You’re worried about falling behind on your monthly payments
- You're concerned about how much equity you have in your home
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Exactly what is an FHA Loan?
The Federal Housing Administration (FHA) is a U.S. Federal agency formed in 1934 with the main objective of helping Americans achieve home ownership. The FHA offers a loan guarantee to approved lenders on loans that might otherwise be declined. However only lenders approved by the FHA are able to offer FHA loans.
MyFHA.org is a service of Sterling National Mortgage, a fully approved direct lender of FHA loans.
FHA Loan Programs are available to qualifying applicants, for initial purchase or refinance of single family or multi-family residences in the United States.
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