FHA 1st Time Home Buyer Loan
The Federal Housing Administration insures loan programs for first time home buyers with low money down and good mortgage rates and favorable terms. FHA home mortgages are managed by HUD and backed by Congress in hopes of stimulating homeownership with cost effective house financing. Finding a loan for first time home buyers with bad credit and no money down can be a challenging task. FHA requires applicants to come up with at least a 3.5% down-payment. They do allow gift money from relatives and down-payment assistance, but only in some states.
FHA Encourages First Time Buyers to Finance a New Home with only a Small Down Payment!
You will be happy when comparing FHA mortgage 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 a small down payment required of 3.5%.
Nationwide Mortgages provides Americans with FHA home mortgage programs that have been successful bridging the gap from renting to owning a home. Rates on first time home buyer loans have never been better. Take a minute a complete the application below and get a free quote from a lender that specializes in loans for new home buyers.
The Federal Housing Administration has been helping Americans become homeowners since the Great Depression. For over 8 decades, this government agency has been insuring FHA 1st time home buyer loan products that are affordable, fair and accessible. Take a little bit time and consider multiple offers on FHA first time home loans with great interest rates and reduced closing costs.
With the help of our federal government, no-money-down mortgage loans still exist. Many 1st time home buyers are looking to FHA to finance the home they are looking to purchase.
FHA Allows Gift Funds for First Time House Buyers
Great FHA Home Loan Rates for 1st Time Buyers
FHA loan programs enable consumers to lock in a very low rate with only depositing 3.5% down for a new home purchase. FHA borrowers are allowed to finance the mortgage insurance premium, so they do not have to come out of pocket.
FHA Streamline Protect Against Inflation
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 info for credit & loan terms