FHA mortgage loans are government insured home loan options for refinance or purchase. Compare FHA rates, with conforming and subprime loan terms and closing costs. First time homebuyers should consider FHA for financing because the mortgage rates are low and there is only 3% required for a down payment.
97% FHA Mortgage Loan
First Time Homebuyer
95% Cash Refinance
Bad Credit Allowed
FHA Mortgage Rates are Low!
Finance a New Home with only 3% down!
Nationwide Mortgages provides Americans with FHA home mortgage programs that have been successful bridging the gap from renting to owning a home.
FHA mortgage loans enable consumers to lock in a very low rate with only depositing 3% down for a new home purchase. FHA borrowers are allowed to finance the 1.5% mortgage insurance premium, so they do not have to come out of pocket.
FHA Streamline Refinance
These are loans insured by the FHA. They are generally a little easier to qualify for than conventional loans and may require less of a down payment. FHA Loans are great for first time home buyers with less than 3% down.
The FHA, which insures about 10% of the nation's mortgages, makes hundreds of thousands of reduced or zero money down loans to borrowers nationally, sometimes allowing sellers to put money up for the buyer through a third party. For example, In Tennessee, Home sellers even paid down payments for 23% of the 14,243 FHA loans last year.
In most cases, FHA mortgage loans, offer as competitive an interest rate as conforming mortgages. If you are sick of being turned down because you have bad credit scores, give Nationwide a try, because we offer FHA loans to people with good and bad credit scores.
Helpful mortgage insight for credit & loan availability
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