FHA Mortgage
The FHA is the Federal Housing Administration, , a division of the United States Department of Housing and Urban Development (HUD). The FHA has been one of the single best resources for homebuyers to purchase a home since its inception in 1934 under FDR’s New Deal.
FHA guidelines make the experience of
Homeownership more accessible to more people.
The FHA guidelines are designed in such a way as to give Lenders more flexibility in approving New York and Connecticut mortgage loans. The FHA is an insurance program whereby the New York or Connecticut Mortgage loan is insured by the United States government.
Some of the many wonderful features of FHA Insured mortgage loans:
 |
Low down payment requirements: 3.5% of the purchase price |
|
Purchasers can use more of their monthly income to qualify for a loan |
|
Credit score requirements are lower than for Conventional loans |
|
FHA Loans are fully assumable (subject to the new purchaser’s ability to qualify for the loan) |
|
Seller can contribute up to 6% of a Purchaser’s closing costs. |
|
FHA Allows for a higher percentage of the value of a home to refinance for lower interest rate or cash out |
PowerHouse Solutions is approved to originate FHA Loans.
We’re experts on FHA!
Let a PHS Solutions Provider surprise you with the accessibility of FHA Insured Loans
by filling out the form below!
Contact Us Now To Learn More About The FHA!
