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FHA Loan Advantages. This government program can help homebuyers with lower credit, higher debt and little money for a down payment qualify for an affordable mortgage. Here’s everything you need to know about them and lots of good advice on how to qualify for an FHA loan.
FHA loans make it easier for consumers with bruised credit scores to buy a home. Find out if you qualify for one of the federal government's best programs.
Qualify Fha Loan Interest Rate Fha Loan These are a few of the substantial benefits of taking out a 15-year mortgage compared with a 30-year FHA loan. Lower interest rates. real offers from the LendingTree show that people shopping for the best loans can expect to save around 25 basis points (.25%) on their mortgage rate by taking out a 15-year FHA loan. Over the life of the loan.
The Federal Housing Administration insures the 203(k) program, protecting lenders if you default. Conventional loans aren’t government-insured and can be used for more types of repairs. Both FHA and conventional rehab loans require licensed contractors to perform property repairs.