All FHA Approved Downtown San Diego Condos for Sale – CLICK HERE
Benefits and Advantages of Using an FHA Loan:
- Low down payments as low as 3.5%, they make home ownership very affordable for many would be home buyers.
- FHA loans are possible for borrowers with “less than perfect” credit.
- Lower FICO scores than conventional loans are generally accepted.
- An FHA loan is possible after only 2-3 years following a bankruptcy or foreclosure in some cases.
- Interest rates are essentially the same as a conventional loan. The monthly mortgage insurance premium is far less than you would pay on a conventional loan.
- Debt ratios for borrowers may be higher than what is accepted on a conventional loan.
