Is an FHA Home Mortgage Right For You as a Home Buyer?

Who can qualify for an FHA loan? This is a loaded question, but one that you may find yourself in which could help you decide to buy a house by helping you decide which loan program is right for you.

What follows is a list of situations where a FHA home mortgage might work perfectly:

  • First time home buyers
  • Home buyers who need down payment assistance
  • Home buyers who have had a little hiccup with their credit
  • Home buyers who want to use a local municipality or state downpayment assistance program
  • Home buyers who live in AZ, CA, CO, CT, FL, GA, HI, NE, NM, OR, TN, TX, UT, WA
  • Home buyers who have credit scores more than 500 and especially more than 580-620.
  • Someone who wants to be able to refinance down the road with a FHA streamline refinance
  • Someone who wants to buy a home or refinance their home and do energy efficient upgrades to their home
  • Someone who wants to buy a home and do renovation and rehab work to the home
  • Home buyers who need gift funds from a parent or relative for down payment or closing costs