Popular with first-time homebuyers, these government-backed loans feature low down payments and relaxed credit requirements
You don’t need to save a small fortune to afford a new home. FHA mortgages require lower down payments and include several other financial advantages.
Federal Housing Administration loans were part of FDR’s New Deal. Today, they’re still a great deal because they break down two big barriers to home ownership. You don’t need to put 10% or 20% down on your new home, and you don’t need a near-perfect credit score. Let a Supreme Lending Mortgage Professional explain how – with a little help from Uncle Sam – you might qualify for these very affordable mortgages.
- Excellent choice for many first-time homebuyers
- Low down payments, with a minimum of 3.5% (mortgage insurance is required)
- Credit scores as low as 580 accepted
- Gift funds from family members, friends or employers can be used for 100% of the down payment or closing costs
- Fixed-rate and adjustable-rate mortgage options are available
- Refinancing options also available
Worried about dealing with the government? Relax. It’s not the FHA that’s lending you money. The agency simply offers guarantees to lenders like Supreme Lending. The entire application process will be handled by one of our friendly Mortgage Professionals.