FHA might be just what you
need. With FHA insurance, you can purchase a home with a low
down payment from as little as 3 percent to 5 percent of the FHA
appraised value or the purchase price, whichever is lower
allowing lenders to provide you with lower closing costs and
easy credit qualifying.
What are the eligibility requirements?
>The borrower must meet standard FHA credit qualifications.
>The borrower is eligible for approximately 97% financing. The
borrower is able to finance the upfront mortgage insurance
premium into the mortgage. The borrower will also be responsible
for paying an annual premium.
>Eligible properties are one-to-four unit structures.
For more information contact:
US Department of Housing and Urban Development
451 7th Street, S.W.
Washington, DC 20410