Government Home Equity Loan Mortgages
In today's tough economic times, finding a home loan that suits you can be difficult. Lenders today want higher credit scores and larger down payments. The requirements can frustrate even the most qualified borrowers. At LendingExpo, we are here to provide you with an easy solution, government FHA loans. Here you will find FHA loan requirements, FHA guidelines, and by putting in your zip code in the form above, you can find suitable lenders.
Goverment Home Mortgage Help Programs
The FHA is a federally assisted mortgage loan that is insured by the Federal Housing Administration. These loans are available for mid to lower income Americans. The FHA loans have a down payment of as low as 3.5%. So, if the cost of the home is $100,000, the down payment would be $3500.
New FHA Secure Program
Recently, the government added a new refinancing program called the FHA Secure Program to help with the 2007 sub-prime mortgage crisis. This program helps borrowers to refinance and avoid foreclosure. With this program, the lender will not automatically disqualify you for being late on your payments. Your new lender may offer you a second mortgage to make up the difference between the value of you property and what you owe. By refinancing with a FHA Secure loan, you can expect to pay lower monthly payments. You can find a lender in your area by entering your zip code in the form at the top of this page.
First Time Home Buyer Mortgage
FHA loans are specifically geared toward helping families get into their first home. By lowering the downpayments amounts and the qualifications for the loan, first time home buyers are able to get into a house more easily than ever. With the depreciation of home prices sweeping the nation, today may be a good time to start looking.