Need a house and can’t get a traditional mortgage?

If you are like 90% of America it is difficult to get a mortgage. And if you’re like me you are tired of paying rent and getting nowhere. The problem is saving up the 20% down for a down payment is just about impossible.

Over the last four years you have watched the price of everything in life increase but income keeps getting cut and at the end of the month there is no extra money to save. To make down payment on a house at twenty percent on the average house you would need about $10,000. So you’re stuck renting and never getting where you want to be.

However if you could just save 3.5% you might have a chance. That is because the FHA (Federal Housing Administration) is willing to help people like us. They offer a low down payment loans for first time home buyers to purchase a home and beat the vicious cycle of paying rent and being stuck somewhere you don’t like to be. 

The FHA home loan program is designed to help lower income Americans and those that can’t obtain a traditional mortgage because of their financial situation. Whereas with a traditional mortgage at a bank one must have 20% down and the home must pass a inspection for financing a FHA loan will allow you to finance the repairs to make a fixer-upper finance-able and you can roll the cost into the loan with a low down payment.

Unlike traditional banks the FHA Loans program will also allow someone to finance a mobile home or a modular home rather it is in a mobile home park or on property. The FHA Loans will also help finance energy upgrades to a old home. 

With this information a person who saves up $3500.00 and has the proper credit rating could purchase a $100,000 home.

Maybe there is hope.

Call Conquest Real Estate Now to Learn More: (248) 569-1486