Overview
The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so that Mann Mortgage can offer you a better deal. FHA loans are open to all qualified home purchasers. While there are limits to the size of FHA loans, they are generous enough to handle moderately-priced homes almost anywhere in the country. FHA loans offer a low down payment and more flexibility than many other types of financing.
Benefits
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Competitive Interest Rates
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Down Payment as low as 3.5% (can be gifted by a family member/relative)
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Low Credit Qualifying
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Non-Owner Occupied Co-Borrower Allowed
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Up to 6% Seller Contribution for Closing Costs
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Low Closing Costs
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No Income Limits
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Flexible Requirements