Patricia Paul Properties

FHA Loans Are Increasingly Popular PDF Print E-mail
Friday, 24 July 2009 20:00

FHA (Federal Housing Administration) loans have become increasingly popular in this market.  Probably the biggest reason is because a buyer can get into a home with a low downpayment.   Currently the requirement is 3.5% of purchase price.    Also, some of the inspection and repair requirements have eased up over the years, so it's really no more difficult to finance a home using an FHA loan.  In the last year, approximately 46% of all mortgage applications were for the government backed loans.

In June the FHA set a new record, guaranteeing 186,000 mortgages, the most ever in the 75 years they've been around.

If you are considering purchasing a home and would like more information on FHA, VA, or conventional loans, please contact me.  I would be happy to put you in touch with several capable and friendly lenders who can you provide you with all the details and quote you current rates.

 

Patricia Paul, GRI  *  (520) 548-2078  *  www.PatriciaPaulProperties.com

 

 

 

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Last Updated on Saturday, 25 July 2009 03:39
 

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