Programs

FHA

A smart choice for first-time and move-up homebuyers

At Homestead Funding, we believe that it’s important to offer a wide variety of home loan options. That is why we offer FHA loans – because they are be a perfect financing choice for so many home buyers. If you would love to buy a home, but are lacking pristine credit, a down payment, or are unable to cover closings costs, an FHA loan may be just right for you! FHA financing was developed to provide homebuyers with an alternative to conventional financing and has attractive and flexible guidelines.

With lower down payment options, and flexible lending guidelines this loan type is a top choice for today’s buyers.

Key Features and Benefits of FHA Loans

  • Low 3.5% down payment
  • 100% gift funds – the entire 3.5% down payment may be a gift from parents, relatives or an employer.
  • FHA allows sellers to give up to 6% of the home’s purchase price to an FHA buyer to pay for closing costs and pre-paid costs.
  • Flexible credit qualifying – because it is government-backed, it’s possible to qualify for an FHA loan with a lower credit score.
  • Options available for borrowers with limited equity looking to refinance.
  • Fixed or adjustable rate options available
  • Finance single-family homes, condos, multi-unit properties, or manufactured homes.

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