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  5. Tax Time in Wisconsin
  6. Don’t Let Intimidation Get in the Way of Home Ownership
  7. Setting Financial Goals for the New Year
  8. Buying a home after bankruptcy

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Getting an FHA Loan

July 25, 2017

FHA loans are insured by the Federal Housing Administration. Borrowers pay for mortgage insurance, which protects the lenders from a loss if the borrower defaults on the loan. The good news about mortgage insurance is that it is an affordable way to get a home mortgage at an attractive interest rate, and sometimes with very little money down, with less than perfect credit scores.

 

FHA loans can make allowances for home buyers with lower credit scores and with little credit history. The program also allows for as little as 3.5% of the purchase price down, and FHA borrowers can use their own savings to make the down payment. But it also allows other sources of cash include a gift from a family member.

 

Contact us today at GSF Mortgage to talk about qualifying for an FHA Loan, or one of the other many loan products we offer that make home buying stress free!

   

Ron Meyer
GSF Mortgage Corporation
300 Patriot Dr.
Little Chute, WI 54140
(920) 788-9608
rmeyer@gogsf.com
NMLS #222688 & 1018