FHA loans are mortgages administered by the US Department of Housing and Urban Development and insured by the Federal Housing Administration (FHA). The insurance from the FHA protects the lender if a borrower defaults on the FHA loan. With this protection, lenders are able to provide loan options commonly not offered through conventional financing. Because of their low down payment requirements, FHA mortgages are often well suited for first-time home buyers.
For home buyers with limited funds for a down payment or a rougher credit history, the FHA mortgage could provide the solution they need in home financing. Compared to conventional mortgages, FHA loans typically offer more flexible underwriting, more lenient debt to income requirements and looser conditions for past collection or pay off accounts. FHA loans typically have fixed interest rates.
First-time home buyers might be well-served with the FHA loan. For first-time home buyers, saving enough funds for a substantial down payment can be one of the most challenging parts of buying a home. Since FHA loans can offer lower down payment requirements and also allow home buyers to roll closing costs and other fees into the loan amount, these might be a wise mortgage option for first-time home buyers.
The hyperlinks to other websites are provided solely as a convenience of the users of the First Choice Loan Services Inc. internet site, or the sites of its mortgage loan originators. The Company has made a limited effort to determine that these links function properly. Linked sites are not under the control of the Company or Originator, and the Company or Originator is not responsible for the contents of any linked site, or any link contained in a linked site, unless the site is www.fcloans.com. You are responsible for confirming the identity and authenticity of any site you visit and transact business with online. The inclusion of a link does not imply or constitute an endorsement by the Company, its ownership or management, the originator, the products or services it offers, or any advertisers or sponsors appearing on these web sites.You can click the Cancel button to return to the previous page or use the back arrow/button on your browser after you leave.
Protect yourself from possible e-mail fraud threats. First Choice Loan Services will never request your confidential information through email. Contact us at 855-532-2047 to verify any email request or to report suspicious emails.