If you are thinking about buying in South Tampa, the main consideration is what type of home and area you would like to have and live in:South Tampa Area: The South Tampa area is one of the
FHA Could Be The Loan For You
FHA LOANSReady to become a home owner, but don't have a ton of money in the bank? Achieve your dreams with a Federal Housing Administration (FHA) Loan, featuring a lower down payment.
Getting To Know The Federal Housing AdministrationThe Federal Housing Administration (FHA) is a government entity that offers mortgage insurance on loans made by FHA-approved lenders, such as Waterstone Mortgage. The FHA provides insurance on mortgages for many different types of homes including single-family homes, multifamily homes and manufactured homes. The FHA is completely funded by its own self-generated income, meaning there is no cost to taxpayers for its operation and services.
What Are FHA Loans?FHA loans are insured by the Federal Housing Administration. These loans are designed to help first-time homebuyers and experienced homeowners alike by providing them with a low down payment option. FHA mortgage insurance serves as protection for lenders in the event of a homeowner defaulting on their home loan.
How FHA Loans Benefit YouFHA insured loans often give potential homeowners the option of making a lower down payment than they would need to make if using a traditional, non-FHA insured mortgage. FHA loan benefits include:
- Down payments as low as 3.5%
- Loan is guaranteed by the government
- Less than perfect credit can apply
- Energy-efficient mortgages, reverse mortgages, refinances, and renovation loans also available.
FHA Loans Benefit EveryoneFHA loans don’t just benefit the potential homeowner – they also are beneficial for the economy as a whole. They stimulate economic development in the form of expanding tax bases and creating jobs.
In fact, the FHA was created in 1934 as a direct response to difficulties in the housing industry such as unfavorable mortgage loan terms, low rates of home ownership nationwide and widespread unemployment among construction workers.
Get Pre-Qualified for an FHA LoanNow is the time to take advantage of the many benefits FHA loans offer potential homeowners. Plus, it’s now easier than ever to qualify! Tommy Bearint at Waterstone Mortgage will guide you through the FHA loan process with expert knowledge, competitive rates, and first-class service.
Posted on Behalf of Tommy Bearint with Waterstone Mortgage. Contact Tommy at 813-786-1941 or email@example.com for more details, or apply online at www.MortgagesByTommy.com.
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