Get An Fha Loan Now !

Get an FHA Loan Now !

If you are looking to buy a home, then you should choose an FHA loan now. Getting an FHA loan now is more popular than it used to be, but much of this view has to do with the how the market is doing. With the up and down trends in the housing market, it has been hard for people to decide what option they should choose when buying a home or refinancing their current mortgage.

The Basic Benefits of FHA

There are many benefits to getting an FHA loan now, especially with interest rates at a 50 year low. These rates are so low now, that you would never need to refinance again unless that is something that you would want to do. Banks would like for you to hang onto your mortgage forever because they see the potential in earning that interest right now with all the foreclosures that they have been dealing with. Refinancing now, would position you to be able to not need the bank so much, unless you want to do home improvements or consolidate debt down the road.

Getting an FHA loan now can help you lower not only your interest rate, but in lowering your monthly mortgage payment it enables you to reduce your overall monthly debt and outgoing obligations. In addition, you will be able to put money back for you and your family, and save it or invest it into an IRA. Look for options that will pay you back for your hard work, and time well spent researching the proper investment vehicles.

FHA is Great for Those Who are Buying

If you are planning to buy another home, and you dont have an FHA loan now you can still get one as long as you meet the FHA loan requirements. FHA is a great option, especially for those who are first-time homebuyers because it offers a low down payment option, along with the extremely competitive interest rates that I mentioned to you earlier. With FHA, you can start with a down payment as low as 3.5% if you qualify with a credit score of 620 or better. You can still qualify with a score of 580 or better, but you will need to come up with 10% down instead. This is still great news, because conventional loans have more stringent guidelines. Your down payment could be anywhere from 10% to 30% down depending upon the lender that you are dealing with.

For more information on FHA, and what you need to know to get qualified, you can go to www.fhaloansnow.net, and fill out the form. The form only takes two minutes to complete.

by: Mayer Dallal

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