HA HOME LOANS
are easier to qualify for than traditional loans and require a
smaller down payment as well. Closing costs are regulated so that
you aren't hit with huge fees.
As a part of an FHA loan's eased down payment requirements you
may be able to pay as little as 3% down and even use money from
charitable donations or family.
Because of
the easier down payment requirements, FHA home loans are popular
for first time home buyers, those with bad credit, or those with
little money to put down. It is common for FHA borrowers to finance
the maximum 97% of their mortgage.
As a part of an FHA loan is also
common to paid what is called points. Each point equals 1% of
the cost of the home and is paid towards reducing your interest
rate.
If you are renting, an FHA loan may allow you to become a homeowner
sooner than you might otherwise. As a homeowner you have the
benefit of tax deductible interest payments on your mortgage
as well as equity acquired over time that is otherwise handed
to your landlord.
Many of our network lenders are able to
offer FHA Home Loans and go through the numbers with you to
tell you whether or not you qualify. To contact a lender today
simply fill out our one page application
and you will get as many as four free no obligation loan quotes.
Common Questions:
1 What
is PMI (Private Mortgage Insurance)?
Private mortgage insurance
is usually paid by homeowners who are putting down less
than 20% of the selling price of their home. It it typical
that homeowners with an FHA loan pay PMI until they have
acquired a certain amount of equity in their home, at
which point the borrow is legally no longer required to
make payments.
2 Can
I finance my closing costs as well?
Yes, Closing costs are
typically 2-3 percent of the selling price of the home
and they can be financed as a part of the purchase of
the home in most cases.
3 What
is the most I can borrow with an FHA Loan?
This depends on where you
live and how many members of your family will be living
in the house. Values range anywhere from $150,000 all
the way on up to well over $300,000.
Home
Equity Loans Taking out home equity loans
now at these low interest rates can save you thousands over
the life of your loan. When you apply we will perform a free
search of our database of lenders to find you the best price.
Refinancing If you haven't recently refinanced or your
credit has improved, you might be able to get a better rate on your
current home loan. We offer a no obligation evaluation of your finances
to see if now is a right time refinancing your home loan.
We also offer a free refinancing calculator with break even date
analysis.
Home
Loans Home loans have never been simpler
than through LendingExpo. We offer free mortgage amortization
calculators and up to four competitive no obligation interest
rate quotes. Applying is easy and many of our lenders have
special first time home buyer programs.
Need money to finance
college or make home improvements? Home equity loans do not have to put
your home at risk and they can offer significantly better interest rates
than other forms of loans. Some home equity loans even have tax deductible
interest payments...
Mortgage refinancing
is simply the process of replacing your current loan with a new loan at
a lower interest rate. Refinancing has been all the craze in the past five
years. But even those who refinanced as a short as three years ago are finding
they can save more by refinancing yet again...
Wondering
how much home you can afford? We explain how lenders evaluate your spending
power and provide you with up to four home loans quote. You can also instantly
estimate your monthly home loan payments online using our free calculators...
Want to make a smaller
down payment? FHA home loans are geared towards buyers who do not have the
capital to make a traditionally large down payment on a new home loan. Qualifying
is generally easy for most applicants...
Graduates this year
can undoubtedly find lower interest rates on their student loans, refinancing
is the means to take advantage of them. Get a free no obligation quote and
start saving today...
First time home buyer programs can offer a break for
many individuals who need help coming up with down payment money or simply
home home buyers with good credit deserving of a lower interest rate.
Many of our lenders offer these programs and are happy to see if you qualify...
