The FHA Loan

Even though the real estate market is beginning to recover and interest rates have dipped low, some people are still finding it difficult to secure a home loan because of their overall credit history and/or lack of sizeable down payment. Such persons should look into government home assistance programs. One such program offers the Federal House Administration (FHA) loan. This loan is ideal for those will lower but not bad credit scores. The FHA does have a minimum FICO score requirement. The requirements to qualify for such a loan are less stringent than the typical bank loan. The FHA loan does not require a 10 percent down payment and allows borrowers to include closing cost. Altogether, it makes purchasing a home more affordable. More info: Home Loans Bellevue

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