A Guide for First-time Homebuyers: FHA Loans
Not sure what an FHA loan consists of? We’ve provided valuable information for first-time homebuyers to help you decide if an FHA loan is best for you.
An FHA loan is a mortgage issued by federally qualified lenders, which is insured by the Federal Housing Administration (FHA). This loan is for borrowers who have a low-to-moderate income, who are unable to make a large down payment.
This loan could be used for different reasons. One reason could be to save money for home improvements. Another reason to consider purchasing an FHA loan is when you aren't willing to put down a large down payment.
FHA loans are also beneficial to those who have children going off to college or purchasing a new car.
At Service First, we offer the FHA program which allows for gifts to be used for a down payment and closing costs as well as other relaxed requirements.
Find a loan officer today to see which FHA loan option is right for you. Let us show you why Service First is lending that has you covered.