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| Q. Why FHA? |
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A. FHA has been serving Homebuyers since 1934 and has helped secure over
34 Million homes. The benefits of an FHA Mortgage include a Low Down payment
(which can be a Gift or can come from a Housing Agency such as Delaware Bond or
Maryland CDA), a Low Monthly Mortgage Insurance Premium, and NO Minimum Credit
Score. This allows buyers to qualify who may not qualify for comparable
Conventional Loan Products. |
| Q. I have money to put down, is FHA right for me? |
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A. It depends. If you have 20% of the purchase price to put down, then a
conventional loan may be more appropriate for your situation. We offer
Conventional Loans at very low rates. You can apply on line or call us to
discuss which option is BEST for you. |
| Q. I am a Veteran. Which is best, VA or FHA? |
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A. Usually, VA would be the best program. The rates for VA are essentially the
same as FHA, but VA Loans do not require a Monthly Mortgage Insurance Premium.
We are one of the areas Largest VA lenders. Please contact us to find discuss
which option best suits your needs. |
| Q. Do you have to be a First Time Homebuyer to use FHA? |
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A. I hear this question often. No, you do not have to be a First Time Buyer to
use FHA! In fact, many repeat homebuyers will use FHA to secure there next home
for the same reasons they used FHA on their previous home! |
| Q. I have heard about the USDA Rural Development Loan Program. What is that? |
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A. The Rural Development Loan Program – or “RD” as we call it – is another loan
program that helps with NO down payment, and NO Monthly Mortgage Insurance
Premium. There are Income Limits associated with the program and vary from State
to State and County to County. Additionally, there are property restrictions
(such as excluding existing Manufactured Homes) that “RD” has that FHA does not.
We review ALL Clients to see if the qualify for the “RD” Program. If you do, we
will discuss this option with you as well. |
| Q. You mentioned Manufactured Housing. Do you finance homes on Rented Land? |
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A. No. We can only do mortgages on homes where the land is included.
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| Still have a question? Please feel free to call us!
The call and the information is FREE but what you learn may be Priceless!
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Assisted By:
"We can do that"
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