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| Testimonials “We just finished the purchase of our first home with Stephen Steakley as our Mortgage Banker. Stephen was wonderful to work with. He was always available for any questions we had and his experience was invaluable at getting us the right loan at the best rate! We would highly recommend Stephen to anyone looking to purchase a new home.” Dave & Donna Jenson More Testimonials > |
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 Equal Housing Lender Urban Austin Mortgage Cedar Park, Texas |
BENEFITS OF AN FHA LOAN
The professionals at Austin Texas FHA Loans are eager to help you get the best rate and the best customer service possible! If you have any questions about any of the features or requirements of an FHA loan, we are here to help. Please feel free to email us or call 512-577-8898 at any time.
When considering a home loan in Austin or any of the surround cities and town in Central Texas, we think an FHA loan is one of the best mortgage programs available. We've listed a few of the most important benefits of an FHA loan, but there are many more that may apply to your particular home-buying situation. Austin Texas FHA Loans is here to assist you with any questions or concerns.
FHA Loans Require Low Down Payment
FHA loans require a low minimum down payment of 3.5% of the purchase price.
And the down payment can be a gift from a family member.
FHA Loans Allow a Blemished Credit History
If your credit is less than perfect, FHA might be the loan for you. You
may qualify for an FHA loan even though you have had financial problems.
FICO scores can be lower than those for a conventional loan. There are
no minimum credit scores required for an FHA loan.
FHA Loans Boast Competitive Rates & Terms
Because an FHA mortage insures the lender against loss, an FHA mortgage
typically has an interest rate that is competitive with the best rate
in your market and lower than the rates charged charged for sub-prime
and other non-prime mortgages.
Sellers Can Assist With Closing Costs
The home buyer and the seller, individually or jointly, can pay closing
costs as greed to in the sales contract. FHA no longer limits what closing
costs the homebuyer is permitted to pay. The seller can contribute up
to 6% of the home's price toward closing costs through a seller's concession.
No Pre-payment Penalty for FHA Loans
If your home was purchased with an FHA loan, there will be no penalty
for early loan pay off as with some other loan programs.
