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  FHA HOME LOANS in BellevueThe FHA home loan program most widely used for First Time Home Buyers is the FHA 203(b). This is a fixed rate home loan program. This FHA home loan program can be used for a 1-4 unit family owner occupied property.
Call American Brokerage at 800-874-8760 or apply on line with our quick, secure application and get an answer on your FHA Home Loan in Bellevue the same day!
For FHA guidelines and information on their home loans call 1-866-398-4664 and we’ll be glad to answer all of your FHA loan program questions.
A big advantage of the 203(b) is that the program only needs a minimum of 3% from the buyer. This FHA guaranteed loan also allows 100% of the money necessary to close the transaction to be gifted from various sources including family.
Another huge advantage for a FHA home loan is credit worthiness. The FHA program is designed to allow First Time Home Buyer’s with no credit or bad credit problems to qualify for a loan that conventional lenders (for example Banks) would not make. Also, the lender or seller is required to pay some of the closing costs. The MIP (mortgage insurance premium) is less for a FHA loan than an equal conventional loan. And lastly, FHA loan programs usually require less monthly income to be approved for a loan.
A common misconception is that FHA home loans are only for First Time Home Buyers. Whether you are a First Time Home Buyer or buying for the second, third time or looking to refinance your home loan FHA probably has a program for you.
Call American Brokerage at 800-874-8760 or apply on line with our quick, secure application and get an answer on your FHA Home Loan in Bellevue the same day!
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