Mortgage East Bridgewater Massachusetts

BUY A HOME WITH AS LOW AS 3.5% DOWN PAYMENT

An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay. They are a great option for some borrowers. FHA loans allow people to buy a home with a down payment as low as 3.5% of the purchase price.

See if you qualify.

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Who can get an FHA Loan?

Almost anybody can get an FHA loan. There are no income limits. However, there are limits on how much you can borrow. In general, you're limited to median home prices in your area. To find the limits in your region, visit HUD's Website. To qualify for an FHA loan, you'll need to have reasonable debt to income ratios. You don't need perfect credit but you will need to have a credit score of at least 600.

SEE IF YOU QUALIFY

Benefits of FHA Loans

3.5% down payment required on purchase.
You can use gifts for down payment and closing costs.
There are no income limits.
No prepayment penalties.

FHA LOANS

BUY A HOME WITH AS LOW AS 3.5% DOWN PAYMENT

See if you qualify.

Who can get an FHA Loan?

Benefits of FHA Loans

3.5% down payment required on purchase.

You can use gifts for down payment and closing costs.

There are no income limits.

No prepayment penalties.