FHA loans are attractive for first time home buyers and refinances for borrowers with not so perfect credit.
Primarily, the federal government insures loans for FHA approved lenders in order to reduce their risks of loss if there is a default.
Borrowers purchasing the home can be approved with 3.5% down payment or borrowers doing a no cash out refinance can be approved up to 97.75% LTV loan amount.
Interest rates on FHA loans are generally lower than conventional loans.
For more information contact us today (410) 715-4567
