Best Mortgage and Home Loans

Your Mortgage, My Mission

"I love working with my mortgage clients through every step of the buying process... To do my job the best I can, and then be able to sit with them at the closing table, and see their faces as they buy their first home. It's like Christmas for me. There's just nothing better."
-Taylor Hill - 615-243-7590

FHA Loans is Once Again a Winner

Posted on | December 12, 2008 | No Comments

Not long ago, loan officers were laughed at if they recommended their clients go with a FHA loan.  Most Realtors and customers alike were under the impression that a FHA loan was harder to close and harder to get an appraisal approved.  Though that was true at one time, over the last three to five years FHA has been slowly changing into a very viable and competitive loan for first time homeowners as well as those looking to refinance at the lower interest rates.

Here are just a few things about FHA to consider when looking into loans.

  • Interest Rates are competitive
  • Mortgage Insurance factor is lower
  • Currently has a higher cash out ratio
  • Currently has less restrictions and cost associated with credit scores
  • Appraisals are equivalent to conventional appraisals
  • Required to put less money down

Any of these can change tomorrow so you will need to stay in touch with your loan officer and make sure these guidelines are still in effect.

Category: FHA, Mortgage Market
Tags:

Comments

Leave a Reply





Testimonials

"I was very nervous since this was my first house. Taylor was great! I never had to call him because he kept me informed through the entire process. I don't think I could have had a better experience." - Al K.

Subscribe to our feed

Search

Admin