All About FHA Loans - Advantages of FHA that could help you get into that perfect home

ADVANTAGES OF FHA THAT COULD HELP YOU

•Perfect for any homebuyer, but particularly First-Time Homebuyers

•Assumable loan that creates additional market appeal

•Minimum down payment of only 2.25% (minimum investment must be 3%; difference can be buyer paid closing costs)

•Down payments can be gifted from a family member

•Credit Scores down to 580

•Lower monthly mortgage insurance premiums

•Seller paid closing cost up to 6% of purchase price

•No reserves required

•Very competitive interest rates

•Maximum loan limits vary by county & state and range from $271,050 - $460,000

•More flexible qualifying ratios than other loan programs

•FHA’s 203(k) Streamline Limited Repair Program allows homebuyers to finance up to an additional $35K into their mortgage to improve/upgrade their home – perfect for many foreclosure purchases

If you have any questions about FHA loans feel free to call Jake Lee at 843-240-0431. If you are looking for a home Jake Lee 843-240-0431 can help you find that perfect home at no cost to you!!! Call and visit www.SCRealEstatePartners.com to start looking for your new home today!! You can also submit offers online through a new section of our website www.SubmitOnlineOffer.com