by FHA Pros | Friday, May 27, 2011
www.checkfhaapproval.com
FHA Pros, LLC, a national FHA condo approval
service, has developed a list of facts speaking
to the top misconceptions associated with FHA
loans in order to help home buyers better
navigate an already confusing market. FHA
loans are mortgages issued by qualified
lenders and insured by the Federal Housing
Administration (FHA).
service, has developed a list of facts speaking
to the top misconceptions associated with FHA
loans in order to help home buyers better
navigate an already confusing market. FHA
loans are mortgages issued by qualified
lenders and insured by the Federal Housing
Administration (FHA).
“We have seen home buyer interest in FHA
loans go from practically zero three years ago to
upwards of 87% today,” said Christopher Gardner,
founder and president of FHA Pros, LLC.
“Despite this rapid rise in popularity, many
buyers still do not fully understand the benefits
of these loans, and we believe it’s time to change
that.”
loans go from practically zero three years ago to
upwards of 87% today,” said Christopher Gardner,
founder and president of FHA Pros, LLC.
“Despite this rapid rise in popularity, many
buyers still do not fully understand the benefits
of these loans, and we believe it’s time to change
that.”
1. FHA loans are not only for lower-income
borrowers. FHA loans are available to everyone.
borrowers. FHA loans are available to everyone.
2. FHA loans are not only for first-time buyers.
3. FHA loans are not just small loans; in fact,
loan amounts can be as high as almost $800,000.
visithttp://www.checkfhaapproval.com to instantly
identify FHA-approved condo associations and
review maximum loan amounts for a given location.
loan amounts can be as high as almost $800,000.
visithttp://www.checkfhaapproval.com to instantly
identify FHA-approved condo associations and
review maximum loan amounts for a given location.
4. FHA loans are not affiliated with the section 8
housing program.
housing program.
5. FHA loans are often more affordable than
conventional loans.
conventional loans.
6. FHA-approved condo developments are more
desirable to buyers.
desirable to buyers.
7. FHA loans are assumable. In addition to lower
down-payment and credit-qualifying requirements
as compared to conventional loans, FHA loans
are assumable.
down-payment and credit-qualifying requirements
as compared to conventional loans, FHA loans
are assumable.
“Now, more than ever, buyers and sellers need
to understand the options available to them
when it comes time to buy a home,” continued
Gardner.
to understand the options available to them
when it comes time to buy a home,” continued
Gardner.
