Have you determined that you’re ready to purchase a home? If so, congratulations! That’s an incredibly big decision, and it can provide for an exciting time in a person’s life. If you are ready to buy, there’s a good chance that you’ll need to secure some type of funding in order to ensure you can make the purchase. There are various mortgages available, but we recommend looking into one of the many FHA loan programs on the market. With a few different options available, you’ll find that regardless of your financial background, homeownership can be a reality.
Low Income Families
If your family qualifies as low or moderate level when it comes to income – your goals of owning a home can still become a reality. Thanks to adjustable rate mortgages, you can get the financial coverage that you need to purchase a house. Stop throwing your hard earned cash away to costly rent payments month after month! Your initial costs will stay low thanks to this special kind of mortgage, giving you the financial comfort and flexibility you need to make a down payment and fund closing costs.
Smaller Spaces
If you’re ready to purchase a place of your own but you feel as though you don’t necessarily need an entire house, there are FHA loan programs that also cater to buyers looking to acquire units like condominiums. While this is considered a “non-conventional” form of homeownership, your loan will be insured for 30 years – giving you the financial stability you need to make the purchase and get your new life started. Just because you’ve chosen to take a different route towards homeownership doesn’t mean you’re not entitled to the same great benefits.
Going Green?
Have you or your family adopted a green lifestyle? If so, are you aware that this modern way of living can actually benefit you when it comes time to applying for various FHA loan packages? It’s true! While you’ll be lowering your utility bills, many lenders are willing to build expenses that apply to installing energy efficient improvements into your home. Talk about a win/win situation! You’ll be saving money and protecting the environment, and your mortgage company is essentially rewarding you for it! While these are just a few of the examples of the many different loan packages out there, you can easily find more information regarding lending options through a local financial advisor.
